Sell on the (obvious) news

Pubblicato il 11 Giugno 2012 da Veronica Baker

Sell on the (obvious) news

The Spain bank bailout was rumored for more than a week, and the rally begun last Friday ; gap up in opening was immediately filled in the morning .

Obvious sell on the news, of course.

And don’t forget : these are triple witching days, and next 17th of June there will be the fundmental election day in Greece.

Don’t build any strategy until next Monday, this is my advice.

Here the headlines of the day :

  • Spanish 10-year yields hit 6.50% after initially falling to 6.0% on bailout
  • Italian 10-year yields hit 6%, highest since January
  • Troika working to avoid subordination in Spanish bailout
  • Posen : BOE should buy securitized small/medium business loans
  • ECB’s Noyer : Europe needs deposit guarantee system
  • Rehn : No budget conditions for Spain

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