Probably, I am short the S&P using FAZ and I've been buying more all week. When the Cypress run on the banks starts watch out. Bloomberg TV was saying that Russia is going to suck their money out the first chance they get. I hope your all hedged for the drop that's coming. Even though the US economy and housing look healthy, contagion is about to hit Europe when Cypress banks collapse. If you lived in Italy or Spoain would you leave your money in the bank?
Not just the Russians. Now that the EU has stated openly that deposits are fair game for bailout funding, every major corporation with large cash balances in Euro Zone is going to have to play it safe and move their money to the US, UK or maybe Germany. These dimwit, socialist bureaucrats have no idea what they've unleashed upon themselves with the "Cyprus Solution".