This is not a position call. I posted it here because I wanted it to be seen. Now that you brought it up I'd say sell any rally attempts.
Not really, markets may not have bottomed just yet (but it's quite likely they have although a retest of the panic lows (although this is kind of a weak panic still) is usually in order). As always I am talking about the European markets here which are hit harder than US (I still don't see why. We have way lower P/E ratios already and not only that, our macro-economic climate is way way favorable to the US. For one we have inflation with a 1% ECB rate, are thus less affected by speculative commodity increases (because interest can be raised) and thus our companies won't start to enjoy the margin squeeze that Bernanke is inducing)). Anyway that is sort of beside the point. What I wanted to say is, how the hell is this guy saying anything is actually bad? He doesn't say the reactors will release high amounts of radiation. In fact I don't hear him really saying anything about radiation at all. He's just saying there's a problem, which they have about 3 ways of fixing, and if they don't fix it then there still wouldn't be a huge catastrophe.
Excellent piece and highly informational. locutus obviously didn't hear what I heard. The spent rods actually could contain as much radioactivity as 8 reactors?? If these are unprotected and release the radioactivity into the air how is that NOT bad??? Check out the current pictures of the area around Chernobyl....dead zone for eons to come. Granted while this may NOT be Chernobyl it is certainly bad. He said physically removing the rods is pretty near impossible and that is why they are just trying to pour water to cool it all down...I didn't hear any viable solutions other than trying to keep them submerged in water.
<center></center> Crazy markets out there. Maybe Bill Rennick can dust off his Crystal Ball and tell us where we're heading tomorrow.
S&P500 index - head and shoulders target on weekly chart is 1172 and this level should provide some temporary support. SP500 futs last price 1169.
-7% - pretty wimpy gonna make more sandwiches in case we crap out tomorrow. Fellas, put on your crash helmets on before you go to bed tonight! Shortie Rennick Out
Slap the cuffs on Rick Santelli, he nailed the jobs number for the second month in a row. Obviously he has a mole feeding him the data and the moron can't help himself and blabs it out. Jack Rennick Anderson out