Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Thursday, November 3, 2011

The Greek end-game

An insightful article by Ambrose Evans-Pritchard.

He's right.

So why should we buy shares?

The only argument I can think of is that this will force the ECB to behave like a proper central bank and force it to act as a lender of last resort and supply unlimited funds to European banks.   But what if they don't?

Looks to me like the technicals suggest the market's going higher.  For now I'd be reasonably fully invested. But if the 30 day moving average turns down and the 150 day moving average at that point is still falling, I'll sell.

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