Asian markets are down and European markets are hitting seven month lows this morning led by more fears in the financial sector. Oil is flat but due for a bounce soon in my opinion. Boone Pickens on CNBC and hurricanes are coming. I will be looking for more short entries on the financials today.
•Stocks Fall in Europe, Asia, Led by UBS, Deutsche Bank; U.S. Futures Drop •Fed’s Wall Street Lending May Keep It From Raising Interest Rate This Year •Rising Oil, Commodity Prices Pose Risk to Global Economy, G-8 Leaders Say •Freddie, Fannie Capital Concern Triggers Jump in Debt Risk to 14-Week High •Persimmon Sales Slump 34%; Homebuilder Will Cut 1,100 Jobs to Reduce Costs •Fiat to Shut Four Italian Car Factories for One Week Starting in September •Pittsburgh Steelers’ Rooney Family Discusses Restructuring Team Ownership •G-8 Leaders Pledge to Cut Emissions by 50%, Challenge Emerging Economies •Iran Would Strike U.S. Ships, Israel If Attacked, Aide to Khamenei Says