Moody's lowered Spain's bond rating three notches to Baa3 from A3,
placing it one level above junk, or noninvestment grade, territory. Spain's decision to seek up to €100 billion of external funding from the
European Financial Stability Facility or the European Stability
Mechanism, will materially worsen the government's debt position.
Moody's now expects Spain's public debt ratio to rise to about 90% of
gross domestic product this year and to continue to rise until the
middle of the decade.
SMG - I messed this trade up going to lunch today, that'll teach me to eat during market hours. I kept thinking this would pull from resistance at what I thought was 39 - 40, it stayed above 40 and held throughout most of the day. This could continue higher tomorrow before any type of pull back, I almost think it will try to get back to where it started, at 42-43. I like the short still, as they are set to come in well below guidance estimations. Keep it on watch with that being known.
YOKU - on long watch tomorrow, finally broke above 25.25 and should rip higher. Look for deep pull, consolidation and gearing/perking to take long, this could turn into a swing. If I remember correctly they teamed up with TUDO awhile back in a huge deal, which is positive news for them, finally coming to fruition.
I'm not going to sugar coat it, the market is wack right now. Not alot out there, I was looking for bw tonight and I normally would find 5-10 set ups and then be picky and pick a select few for bw, but tonight I had maybe 1 and it was weak. Other than that SMG, YOKU, PCYC, maybe FSLR (even though its a dog) and has a billion bag holders above it, thing will prolly never be a good long again, lol. J/k anyways, market is boring most of the time and has no real trends to play so best to sit on your hands, keep doing your research and hope the tides turn, I think mid July we'll start to see a good pick up, so we only a month away!
