Can’t See The Forest For The Trees

February 4th, 2010 by Belisarius

The market looks like today is just an intro. The 1.085 level broken, and technicians say the next target is 1.035 (I don’t believe in that, but since a lot of investors looks at that…).

Beside bad initial jobless claims (480.000 vs. 455.000 consensus and 470.000 consensus) the main theme is PIIGS (Portugal, Italy, Ireland, Greece and Spain) deficit and debt problem. It’s a hypocrisy, both U.S., particular U.S. states, U.K. and Japan problems with deficit and debt are far bigger. When markets focus on that, this will look like a walk in the park.

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This entry was posted on Thursday, February 4th, 2010 at 11:13 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Can’t See The Forest For The Trees”

  1. Jean- Claude Trichet On Deficits | Tainted Alpha Says:
    February 5th, 2010 at 4:14 am

    […] I wrote yesterday: Can’t See The Forest For The Trees; the EU deficit and debt problems are far smaller than for the U.S., particular U.S. states, U.K. […]

 
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