10th November 2011
Italy is the 8th largest economy in the world but has 6 times the amount of debt that Greece has ,problem 1. Mr Berlusconi will step down just when Italy is in its darkest hour as Italian 10 year bonds hit a peak of 7.5%, problem 2, and the VIX looks to go through the 32 level.
The continued European economic tension has knocked on to US Indices. After a slow rally they have given back all their gains , the S&P in particular takes 1 day to undo a weeks worth of trading. I keep reiterating that we are in a fundamental trading period, news is key and anything that can spook the market many traders are jumping on to make quick profits
Posted By Andrew Johnston
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