If it needs to be spelled out for some, euro is not going away and European Union is not going to disinteffgrate. I read my share of horror scenarios by “experts” in financial papers all over. As it starts to sink in, that euro is here to stay, position of euro will start to improve. It is close to the multi-year low and it has plenty of room to grow. ECB just eased few days back so there is not another cut on horizon in the immediate term. Of course as euro will improve, US markets will improve with it as stronger euro means cheaper American exports.
It has other ramifications. DJIA is at the edge of its big 12,250 resistance. If euro will indeed start gaining from here, it will give fuel to DJIA to cross this most immediate resistance, with a good chance of going into a breakout. So I am standing by my comments from few days back that DJIA will continue higher in December.
If both of the above render to be true, AAPL should break its own 398.00 resistance in next few days and break out into 400+ territory again . It crossed back above its 50 EMA, and it’s bouncing off it each time it pulls back in last few days.
TSLA was a breath away from a breakout, but it seems somebody had a big interest to halt that development and managed to issue a downgrade. If DJIA will break out in next few days, TSLA too should be dragged higher with it. Not sure if it can manage to get back 10% it lost due to the downgrade, but I believe it should bounce back some if DJIA breaks.
Nicu 5:32 pm on December 9, 2011 58 days ago Reply
yep, so;e friends really needed it
so we have to play a remote controlled roulette … there is still a chance to win though
Bunratty 5:37 pm on December 9, 2011 58 days ago Reply
keep yr wife away from business news
Nicu 5:54 pm on December 9, 2011 58 days ago Reply