The Morning Morsel: Too Silly To Fail

Posted by UpsideTrader
on July 26th, 2010

All but 7 of 91 European banks passed the much-anticipated “stress tests” aimed at showing Europe’s banking system is sound enough to weather the continent’s debt crisis – an outcome that officials hoped would forestall further market turmoil. If financial markets take the view that the tests were not tough enough this week, then the exercise could make matters worse – and further expose the EU to charges that it has failed to rise to the debt crisis within its borders.

I read countless articles this weekend, spoke to a few analysts, skimmed the world wide web and discovered maybe one article that declared the stress test process a legitimate success. It was public relations at its best. I remain short EWP, but the bulls may want to run with this for a bit, we’ll have to see. I see many charts I like from the long side, fewer at this juncture that I like from the short side, but as we all know that can change on a dime.

Have great week. Premium Content here.

Monday, July 26, 2010

Economic

08:30 US June Chicago Fed Index

10:00 US June New Home Sales

10:30 US July Dallas Fed Manufacturing Index

Events

08:00 FDA Blood Products Advisory Committee meeting. Ex-dividend: CLX $0.55.

Earnings

Before the Open: ACV, ARLP, BOH, BWP, CALM, CRNT, CYOU, CSR, DEP, EPD, FTI, KVHI, LO, NTY, ONB, PCTI, RSH, ROP, RPM, SVVS, SOHU. After the Close: AAN, ADVS, ALB, ACL, ACGL, BEC, CF, CR, CTS, FOE, HMA, HTLF, INSU, ININ, IDTI, IPCM, JEC, LF, LM, LOCM, MAS, MSPD, MRH, NARA, OMI, PLT, PCL, PLXT, RRC, RGA, RCII, RKT, SANM, SLG, SONO, SFSF, UCTT, UHS, VECO, VLTR, WRB.

Follow @upsidetrader

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.