I have a bad habit of regularly studying a wide variety of boring documents ranging from central bank reports to obscure economic indicators. Lately, it has been difficult to find anything positive about Europe. Since media is full of negative information about Europe, there is no point in regurgitating the
It appears that a big European bank got close to failure last night. European banks, especially French banks, rely heavily on funding in the wholesale money markets. It appears that a major bank was having difficulty funding its immediate liquidity needs. The cavalry was called in and has
It turns out that Mario Draghi is Super Mario. Mario Draghi is an ex-central bank governor of Italy who just took over from Jean-Claude Trichet the presidency of the European Central Bank (ECB). In a surprise bold move, Draghi announced that the ECB is lowering its main rate from 1.5%
This morning European markets are up strongly as we anticipated at the bottom. As per the prior post we added to $EWI long aggressively at $13.77. We suggest taking advantage of this morning’s trend and scaling out partially as well as tight trailing stops on the rest to protect profits.
As per the prior post, we are lightly scaling in $EWI at $14.14. We will add more as the Italian market goes lower. www.thearorareport.com THE ARORA REPORT, Ltd. HOME OF THE UNIQUE ZYX CHANGE METHOD DEDICATED SOLELY TO PROFIT FROM CHANGE BY TRADING AND INVESTING VERIFIABLE PERFORMANCE RECORD Every closed
On March 7,2010 we recommended starting scaling in Italian shares on dips. So far $EWI ( Ishares Italy) has not dipped to our price of $15.50. We are alerting our readers to significant widening of Italian credit spreads especially against German credit. The market seems to be coming to our
As the contagion from Greece spread, money has rapidly flown out of Italian stocks. On the surface, it seems justified. Italy owes 25% of euro zone debt. Italy has long been called sick man of Europe. Few days ago , some Italian stocks seem to be pricing in possibility of