The EU Summit Party's this week and I have nothing to wear! What I really want is an LYG dress, but I'm a bit disappointed I couldn't get it on sale today as my bid expired at market close.
On the surface, I'm not leading the same miserable trading life as I was before since I discovered the magic of profit-taking on my SBA. However, I haven't been able to buy and sell as freely as before - especially since the pain of my existence - the European debt crisis - has been haunting me with evil laughter every occasion it gets. I've been able to turn it into an opportunity about a third of the time, but there's a lot more untapped potential that I'm not exactly capitalising on.
My only hope for the imminent EU summit is for the deployment of funds from the European Stability Mechanism to begin much earlier than the market expects and that it can also have ECB loan facilities. Either of these will dizzy the bears enough for more upside, but only the latter will give us a Santa Rally armed with a steamroller large enough to send the bears stampeding into 2012. The bears have been well-fed this year, so how fast can they run?
But what if the EU fails? Does my portfolio have what it takes to survive?
I'm going to need to eye the GOLs very carefully. One 'see ya wouldn't want to be ya' move from the GOLs carries a tonne of weight since they're the most savvy traders on earth.
+0.37% SBA
+0.24% Roth IRA
+0.43% DJIA
-0.23% Nasdaq
+0.11% S&P
+0.01% FTSE
-0.36% Eurofirst
-1.39% Nikkei
-0.31% Shanghai
-0.25% SENSEX
+0.64% WTI Crude
+1.10% Brent Crude
+0.97% Gold
+1.02% Copper
+0.69% Corn
+0.04% EUR/USD
+0.02% GBP/USD
+1.04% VIX
It'll most likely be a sleepless night...
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