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Not feeling all that good … May 20, 2010

Posted by WillardWhyte in Economy, Greed, Musings, Wall Street.
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… about the financial markets tonight, even as I cheer passage of a reform bill.

An awful lot of negative money is in play in Europe, betting against the currency, the bailout funds, the state budget deficits, just about anything that smacks of stability and a long climb back. The smart money — the core cynical money — says it won’t work and is playing heavy on the down side, which is helping to build momentum in that direction.

Over Here, the negative vibes have driven up the “Fear Index” and Smart Money fled hard today into Treasuries and near cash. Futures trading will probably have the Dow down below 10,000 before the bell. And once the false floor is gone, the 50 states weigh in with unemployment numbers for April, which probably won’t cheer too many Bears.

So I think we all need to think tonight about how far we have come in 14 months, strap in for a bit of bluster and then say no to Fear. It cost us dearly the last time.

Now is a time to hold ’em — and just say No to the Children of Darkness.

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