Comment On The Day

ZSL and TZA ended up around 5% today.  There were times when they may have been down almost as much - i.e. not a market for widows and orphans !  EUO moved in our favour but to a lesser exent.  It does seem as if people are beginning to "get it" and we could well see blood in the streets tomorrow if everyone runs for the exit at the same time.  It is just a matter of time before the US steps up to the plate in Europe - this is an election year and the US banks are much more exposed than they let on.  Right now the powers that be need the markets to fall so that they have the excuses they need to intervene.  Then get ready to see things go up up and away but for now being short seems a good place to be.