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Monday, May 10, 2010


$750B Euro promise should buy you a rally. Indeed. But when you think about it, its all still just "jawboning" for now. But the long run? Its not like they had a rainy day fund where they are getting the money.  Its essentially a Ponzi and they agreed to double down and take it to its end game whatever that might be. They'll even make the bankrupt UK chip in against their will.

Bureaucrats in open theft stealing the "people's money" to save the banksters.  Of course there is no such concept in Europe of the "people's anything".  Thats where we are headed.

In the end, Europe was extremely oversold so it was more than ready for a violent rally. Lest we foreget P1's violent rallies so soon?

Exciting market times we live in huh?   The snap-back should be worth a few points.
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