Thursday, June 10, 2010

Well, Hal 9000 what will it be today?

Here's all you need to know about today's rally. Goldman told people to start selling the Euro because it was going lower.

Of course, because Goldman said that publicly, it was implied that they were buying Euros for their own book and it was off to the races for the Euro --- ok, snark off.

Remember the basic formula if the Euro is Up and the Dollar is Down then Stocks will be up!

2:30 is usually the golden hour when the computers will either take profits or goose it.

The best story working its way around the web comes out of BMO in Canada. With 10 million clients they are a real bank even if they are based in Canada :)

Go To Cash

"We advocate switching out of equity positions and going to cash".

I don't offer investment advice, but to hear a bank that makes money by managing money say that clients should switch to cash is interesting, especially on a day when the market is rallying :)

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