Big Ben and the possibility of QE3 can’t stave off Eurozone Fears

The market notched another triple digit day, this time to the upside. When you see volatility like this, you can expect a big move coming very soon. News out of Europe continues to be the catalyst, irregardless of Ben Bernackes pledge today that they will do what it takes to keep the economy on pace.. ie. Quantitative Easing #3 is ready to go and in his warchest if needed.

Futures are down at the moment, indicating a 1% haircut at the open:

 US 30Dec 1111655.001176811800.0011614.00-113.00-0.96%5:19:00
 US SPX 500Dec 111220.951234.251237.951216.95-13.30-1.08%5:18:34
 NQ 100Dec 112298.802314.52324.402291.20-15.70-0.68%5:18:34
Headlines out of Europe that France and Germany have given Greece an "ultimatum" , has world markets on edge once again. We will see how this pans out. A greek default may have devastating effects on the market short term, although long term it may be a better option then the current scenario.
What will stop other countries like Italy or Portugal to get the same deal Greece is getting? Let them default, deal with the consequences, and move on.

Profile photo of jimmybobJimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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