As if we didn’t know this was coming, Italy was downgraded a notch tonight that took the futures down hard. We’ll see how things shape in the am but I suspect more selling will come as fear’s grip on Europe and the rest of the world clutches even tighter. Whether Greece, Italy, Spain, Portugal or Ireland – there seems to be death spiral that has engulfed the eurozone. The uncertainties are numerous and these little surprises like downgrades cripple the confidence of investors and traders. Any momentum seems to be stunted in its tracks with every news item. The ridiculous becomes the absurd when one news item is spoken yet five minutes later is retracted.
Today I tweeted out a trade idea on FAZ, which some of us were stopped out on. We’ll look at this one again on the heels of this downgrade above. Be looking for it if you’re on the list! Not signed up? Here’s your chance – click here and you’re on your way! If you downloaded the eBook there is a coupon to use for 25% off the first month (email me for the code and I’ll send it over – firstname.lastname@example.org). Keep coming to the site for good content – I’ll have some new articles up over the week.
Twitter is a great way to get trade ideas out to all subscribers and share with one another.
I’ll see you on the stream tomorrow!