I took a good position in EUO towards the close today.  Iceland did well by thumbing their noses at the Bankers and it is a matter of time before Greece followed by the rest of the PIIGS do the same.  If history teaches one thing it is that you have to clear the baggage before you can move on.  By now the Feds should have US Banks and more importantly the  money market funds insulated from Europe so  I would expect US stocks to start de-coupling from Europe.

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