Time Out… “Pouce!”

Watching this soap opera, day-in and day-out while trying to make sense of possible interconnections is so obviously an exercise in futility. Though, it’s in equal measure addictive.

image stick out tongue Pictures, Images and Photos

Even before the market has opened today, I’ve stumbled on TO MANY confusing major themes:

  • A 2 Billion Dollar loss at UBS by a Rogue Trader (they’re always rogue). You can’t help but like his name “Kweku Adoboli“. Hints of more to come, key music.
  • Euro Strength on Political Posturing across Spain, France and Germany.
  • Gold weakness on who knows what (boredom perhaps or dollar strength?)
  • HFT explanations, excuses, and doublespeak.
  • A US Economic data barrage thats as bad as last month.
  • An explosion in the $EURUSD to 1.39 on ECB intervention.
  • BNP up 18%? Note to self: buy $GS today…
  • And maybe the funniest: Europe is in trouble because of Socialism (And the US because?)

The only thing I can make of the optimistic market behaviour is that investors in the US markets are telling themselves, “Hey, Europe is Europe, and they’re not MY problem, lets start thinking about other things. Lets start thinking about anything BUT Europe.”  Fair Enough. The odd thing is that European markets must be thinking the same thing. It’s becoming comic the rumor driven schizophrenic behaviour of our financial markets.

Good Trading…