For you guys that have been with me forever you know I spent half my life opining on Draghi, the ECB and the Euro Crisis in these blog posts. He’s back.
Seems like yesterday that Europe was splintering off into the Mediterranean like a floating door carrying all the socialists to a new and better place. The Euro crisis seems like yesterday to me, sometimes I think my emotional growth has stunted and I still dwell too much in the past. But I’m old fashioned and massive stock market crashes are still fresh in my mind. Remember the Greece crisis? Spain, Italy, Germany? How about that “Cyprus scare”? A country the size of a postage stamp had the markets selling off like nobody’s business. Friggin Cyprus. What a mess, well they’re a mess again and Draghi did a 180 today, surprising the planet as he has gone full-blown ‘open the spigots’ again. Whatever you need Eurozone, let’s get another band-aid on cancer for Europe and kick the can down the road some more. I thought this was done with. Europe is a disaster, just look at the charts, hopefully, that “contagion” thingy doesn’t start up again.
Like I always say, history may not repeat, but it often rhymes.
Today was another give-back day, I’m not expecting a full-throttle crash here because the market usually knee jerk overreacts and takes a day to process information, but I did add QID just in case.
QID gets you short the Nazzy or QQQ (2X). If the sellers gain steam it will be a good trade, if not, its less than $2 of risk to get some protection against longs.