Yesterday’s market blew through the downside projections, much like the rally did on the upside earlier this year. It comes to mind that the prior rally became historically over-extended, so there are a lot of folks ready to jam the exit doo…
I’m going to keep this update short and sweet. Yesterday, the charts looked muddled, and to some extent, they still do — I’ve noticed over the years that this almost always happens in the charts when the market is making an important…
This is not helping French bank stocks today.
PIMCO’s Mohammed El-Erian has a dramatic post up at FT on the various signs of trouble in French bank land.
You have reports of banks not trading with French banks. You have equity prices at 50-% of bo…