“Acroplolis” Now

• Posted by UpsideTrader
• on May 25th, 2010

The Greek contagion has officially spread its tentacles around the globe. Italian, Portuguese and Irish stock markets joined Spain and Greece in bear market territory Tuesday, as markets across the Continent suffered through another heavy wave of selling pressure. North Korea isn’t playing nice in the sandbox either.

S&P futures are currently down 2.5%, DOW down 2% and Nazz futures are down 40. For me, the XLF told the tale yesterday as it couldn’t hold support and pulled off a late day meltdown.

I wrote the other day that this could be worse than that little subprime/housing hiccup that we endured in late 2008 as this is a situation where global underpinnings are collapsing.

My Premium Site is incredibly well positioned, as we have many shorts on our list from Sunday evening and more were added last night.

Maybe this is a capitulation…..maybe not. One thing is for sure, opportunities will be plentiful at the right price. Good luck today.

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