So adorable, Sarkozy and Merkel look like Peter Sellers and Angela Lansbury in a late 60’s comedy whodunit. . German growth limped in at 0.1% this morning, but the consensus estimate was more like 0.5%. Germany, the engine of the Eurozone, is starting to feel the weight. Being the best house in a bad neighborhood only can last so long.
Our futures are getting clobbered and of course gold is higher on this news. Trading this market with size or conviction is still as dangerous as juggling Faberge eggs. We are close to wiping out yesterdays gains at this point unless things start to turn.
We are far from being out of the woods as I have been saying for the last two weeks, unless your thing is trading a headline market that pushes and pulls on a day to day basis. No trend, no trade.
Careful out there.
$SPY, $EUO, $EURO,