Sunday, May 16, 2010

Minis Now Down 12.80 EUR In Trouble. Dollar Ramping up.

LOL - here we go again (except the other way?) - Now 13.80. What a difference a week makes. Last Sunday night the minis were exploding on the "great news" of the bailout of the EU. This Sunday we may get the inverse as we all realize the news was not really so great. 

‘Lack of Trust’ Pummels Bank Lending in Europe: Credit Markets  " "Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro." This leak will become a gusher I'm guessing. Democrats open to talks on derivatives is another big whammy here at home as, "Banks claim provision in US regulation bill would rock markets"

The front page of the FT is the place to be right now.  I'll continue to update till I crash tonight.

The end is near. Total collapse, bank runs, et al will be coming soon. Obama and Bernanke's bullshit game is coming to an end. At least O will be able to play the race card. Ben will have no such excuse.

At gap support.