As Europe Disintegrates, Is Full-Scale War Now On The Horizon
KingWorldNews.com
January 29, 2015
With the crude oil market hitting fresh new lows at $43, below is a key piece that warns as Europe disintegrates and the grand experiment runs into more trouble with each passing day, a full-scale war may now be on the horizon.
By Art Cashin Director of Floor Operations at UBS
January 29 (King World News) – When the statement hit, the stock market embarked on the now apparently mandatory 15 minutes of frenzied zigzag trading.
Initially, they shot up, taking the Dow back to, and very slightly through its earlier highs. After the initial brief frenzy, stocks eased back and made a lower low around 2:40.
They then made a brief but futile attempt at a rally. When that failed around 3:00, things really turned ugly. Stocks fell in an almost vertical line.
Meanwhile, over in the treasury market, a sharp rally broke out, accelerating as it moved through some key technical mileposts. The bond rally countered those who maintained that the stock selloff was caused by the hint of a looming hike in the FOMC statement.
Many traders felt a big contributor to the stock selloff was renewed weakness in crude, which threatened to break down out of the rectangular basing formation that it had appeared to be forming. A WTI move below $43.50 could herald a new leg down.
Is Europe At A Key Crossroad? – In Greece the per capita income is now lower than it was before they joined the Euro zone years ago. The same is true of Italy. The grand experiment is looking less grand each day.
The Rest…HERE
