Daily Reading on the Financial Markets: 2/23/12
I’m sorry I’ve been so erratic in my postings of late. My wife and I sometimes provide interim care for newborns awaiting adoption, and we have been doing that over the last couple weeks. Which equates to very little sleep for your truly. When I’m home at night, I wind up crashing rather than trolling for good articles. Tonight I have a little energy though, so with the market flirting yet again with a possible breakdown, here’s a tour of thoughts on the matter.
Tony Pallotta at Macrostory takes us through a collection of rising (bearish) wedges that may be ready to break lower.
Chris Kimble points to one such example, regional banks, a recent market leader that may be breaking lower from a rising wedge.
Doug Kass, who’s has a pretty decent recent history of calling tops and bottoms, is getting cautious.
Erin Burnett winds up in Matt Taibbi’s crosshairs for war-mongers as the war drums start beating for an Iranian conflict.
From truth-out, Paul Mason on the never-ending and hopeless cycle of austerity facing Greece – when will the people get around to some good old blood and savagery revolt? European banks allowed to plunder their gold holdings?? The bankers are begging for revolt, and it’s just a matter of time. Can you say “V for Vendetta”?