The Wrap 12/14/11

{+++} The chart below is from Tim Knight’s “Slope of Hope” website. Notice the chart of May 2008 and today. Look familiar?  Will it be 2008 revisited? If so, we’re going to have some fun.

The P&L has been updated and there wont be any new names tonight. Perhaps the bulls will try a rally attempt tomorrow, but the bears may want to press their luck of the last two days.

Interesting times as Europe continues to see zero progress. The 10 year note is back to 2% and today the Treasury did another auction at historically low yield on the 30 year. I guess fear outweighs bond vigilantism.

If I see anything of interest, I will post later. Please check the P&L for any adjustments as you should every evening.

have a great night.

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