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Buy the dips...profits & earnigns for S&P 500 companies still better than ever Buy AAPL BIDU NFLX PCLN AMZN AWAY UGA
Aug 28, 2011
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Should You Care About Greece/Portugal/Spain? [Edit or Delete]3 comments
With the devastation continuing in Missouri and Mississippi Obama is on vacation again. Meanwhile, his poll numbers keep falling in major swing states against hypothetical republican front runners. This is bullish for stocks because the economy will do better under a neocon President. The debt keeps going up, more job loss, more pain at the pump..all of this is hurting Obama in the polls. In all honesty, we would still be having those things if Bush were given a 3rd term because dyseconomics is irreversible and autonomous. The fed, wall st, and multinationals (who control congress) impart the most influence over the economy and the government.
Greece. Should you care?
The blogosphere, zeroh3ge, Clusterstock, and Huffington Post is in a Portugal , Spain, Greece, the Euro and debt feeding frenzy. Hundreds of comments, flame wars, angst, doom and gloom. God help us all!! However, stocks are rallying because the smarties that move the market (fund managers and traders) know that those things are not a big deal. That’s why the dips in stocks and commodities keep getting bought.
Remember in 2010 when the Greece fears first surfaced? The markets initially reversed, but the major indexes are now up 20% since then. Earnings, fundamentals, low interest rates, and pro-growth policy is what matters. I know it’s redundant, but unless those things change the market will keep going up, to the chagrin of the Greece crowd.
Let’s look back at all the Geo-political happenings that were supposed to derail equities, but didn’t:
November 2009 Dubai Crisis Verdict: Dud
April-May 2010 Greek Riots & debt crisis Verdict: Dud
April-May 2010 Euro Crisis? Verdict: Dud
January 2011 Egypt revolution Verdict: Dud
February 2011 Libya Civil War Verdict: Dud
Japan earthquake? Verdict: Dud
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So there’s a pretty clear pattern here. Buy the dip on any geo-political events. Debt default= buying opportunity. Riots= buy the dip. Euro crisis? Buy the Euro on dip, buy gold, buy oil, buy silver, buy UGAInstablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
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