The Morning Morsel-Greece is Back and SPY Goes For 15 in a Row

Posted by UpsideTrader
on March 18th, 2010

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Germany has told Greece to pound salt again and suggested they go to the IMF for support. Yes, I said this would happen weeks ago, Germany doesn’t act alone as originally telegraphed by the Euro Pollyanna’s and really could care less if they even exist. As a result the Euro is sliding and the greenback is higher by default this morning.

Oil is starting to hum and $$88 looks like the next technical target for my money.

The finanials (XLF) finally caught that breakout through the $15.75 zone as the ETF has been on fire.

FDX just reported earnings at .76 cents VS. consensus of about .73.

This has become a buy the dip market so chase here at our own peril.

Have a great day.

Thursday, March 18, 2010

Economic

08:30 Feb CPI, Feb CPI Ex Food & Energy, Feb CPI Core Index SA, Q4 Current Account Balance, Initial Jobless Claims, Continuing Claims, Chile Q4 GDP

10:00 Feb Leading Indicators, March Philadelphia Fed

10:30 Natural Gas Inventories

11:00 Treasury note announcement

17:00 Colombia Jan Industrial Production, Retail Sales

18:00 Chile rate decision

Events

07:30 Fed’s Duke speaks to bankers in Washington. 08:00 FDA Circulatory System Devices Panel of the Medical Devices Advisory Committee. Trades Ex-dividend: DPS $0.15, DTE $0.53, TIF $0.20.

Earnings

Before the Open: CRAI, FDX, GME, MCS, NWY, ROST, SCVL, SMRT, VIP, WGO. After the Close: ADUS, CTAS, ICXT, PALM.

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