“Believe deep down in your heart that you’re destined to do great things.” – Joe Paterno
So it looked like Greece would default this weekend and now it has new breath until June. I’ve been to the alter so many times on this one now it’s not even funny. The streets of Spain look like Berkley in the sixties, except with rubber bullets and Italy may be on the verge of bad things as well. The IMF is a slow motion train wreck, as most people in that group seem to be crooks or sex addicts.
Back home we have debt ceiling debates, Presidential candidates that are just completely boring, and a Congress that completely detests the other side of their respective aisles.
The dollar was going to hell, caught a rally, but now looks weak again, as a result commodities got a lift last week. Agricultural commodities were trading like death, but now have new life as analysts upgrade the group everyday. What was bad is good. It’s the financial circle of life.
Goldman sold all of their commodities a month ago, but just as you sold your last share of OXY and POT they changed their minds and got bullish again. Crude was bad, now it’s good. With that said, GS still reduced their GDP forecast this morning.
Confused? Me too. Just trade the tape. Your brain will explode if you try to figure it out.