Spain Isn't Raining on the Party
The rain in Spain may fall mainly on the plains, but a downgrade of Spain falls mainly on the bears in the woods. The Apple (AAPL) incited rally hasn't cooled since it started, even if Apple has failed to follow through on its initial pop. The chance for a $600 pin is still very much alive, although I don't think many equity folks care, as long as the overall move continues to be higher.
The only area for concern today is the movement of some other things in response to the push higher in equities. I would have expected long-dated U.S. Treasuries to be lower along with the Volatility Index (VIX), especially given that it is Friday....180 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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