The Bears Blew It
For weeks, if not months, the market has been anticipating some sort of action by the European Central Bank to deal with the sovereign debt crisis. ECB chief Mario Draghi has previously stated that he is willing to do "whatever is necessary" to save the euro, which has helped to keep a strong bid under the U.S. market.
Many bears were convinced that an ECB bond-buying program was so well anticipated that it was unlikely the market could move any higher. As Jim Cramer used to say, "Wrong!"...179 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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