May 9, 2010

Euro Stabilizes but Still Faces Problems

After an extremely hard sell-off which began Monday, the Euro stabilized on Friday and actually finished higher for the day. With the way information has been distributed
this week, who knows why the market settled higher. Technicians will claim oversold conditions but that reason could have been used since Tuesday. Fundamentalists may claim that there was a delayed
reaction to Jean Claude Trichet’s comment on Thursday that “Greece will not default.” Maybe CNBC failed to play …