#1 - EU cut their CBR only 0.25% to 1.25%
#2 - FASB rules relaxed
#3 - Crude oil is bouncing hard off a bottom despite a glut.
The wall of worry began about two weeks ago, but now the fundamentals have kicked in.
With the EU lowering their CBR by 0.25% instead of 0.50% the Euro is "less weak" against the $USD.
Stronger Euro = Weaker $USD = mkt up.
The relaxed FASB rules mean more "Mark to Fantasy" giving financials a lot more breathing room.
I ditched all short positions and went long EDC @ $50.52 & $50.89.
EDC is a 3x of EEM, for which there is a longer chart.
Almost stopped out of EDZ at EEM $26.55.
I'll hold awhile.
Oil & FXE are looking poor.
I'm not sure WTH TNX izzup2.
http://tinyurl.com/d6h2w3
