Back to Rationality
If everyone was so happy with the accords on Friday, who is selling today? I believe there were two satisfied sets of customers last week, those who were so glad that there couldn't be a Lehman with all of these levels of support, and those who figured, "Now we'll see what the IMF will do to help the sovereigns."
The first set of buyers should still be happy. The second set buyers sees gold down today, sees the euro down and says, "OK, the IMF isn't going to do anything, and all that happened is that we saved the banks for now but the sovereigns are going to drown into their own debt."...434 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.