What a Clueless Market

Who is clueless? Is it the buyers or the sellers? Someone is clueless. Someone doesn't know what they are doing.

That's how I think about this market every day. When you see U.S. market futures rising overnight, right into the Spanish bond auction results at 4:30 a.m. EST, and then see those futures taking a huge dive when the auction's awful, with extremely high rates -- much higher than a month ago -- you know the buyers of those futures at 4:29 a.m. were idiots. That was just a terrible trade. The same goes for buying any of the European markets right before the auction results, when those markets were mostly flat. Soon after, they turned down more than 1%, and in some cases more than 1.5%. It was just stupid beyond belief to buy....813 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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