Portugal has been downgraded by Fitch which means Europe may face some difficulty trying to sweep problems under the carpet. This may mean one country after another being downgraded so lower markets in Europe then lower stock market in the US, Asia, lower oil, etc... blah, blah, blah, welcome to Lala Land?
We already had one, who's to say there won't be another? Only a moron thinks otherwise, it's like with a hurricane, you're going to be in the centre for awhile and there will always be a few stupids who come out and end up getting blown apart by the rest of the hurricane instead of staying inside like they should or for instance with the media they try to convince everyone else that it's over and try to entice them out.
Doesn't a downgrade basically raise the interest rate these countries pay? If so, we can look forward to hedging with currency to USD and interest rate derivatives and a new round of making money hiding this or that debt. I don't know just putting a thought out there.
I don't know about this ... I think eventually you might be right but nobody knows when it's going to turn. You could be like LTCM just a year to early.
Once this weird rally ends that is when it will be the time to short, I've lost $100 twice and thankfully I've taken steps to prevent it this time.
Ratings agencies are useless. The '08 crash taught us that. Portugal is no worse off now than they were a day or a week ago. Can't believe people still value what these agencies have to say.