my preffereds aren't moving much - they usually get crowded/rise as weakness (real or received) enters the market - bots will grind this up to 1360 or so and then it's harvest time and it must fall a lot to ensure the next dose of Zombie Juice/QE3 from uncle Ben - say 1185-
JMHO - GLTA
This is what I think:
The market is technically overbought
The economy is slowing down more than they want us to believe
Corporate earnings are under pressure
The financial community is not worried about Greece or Italy
Inflation is becoming a real concern. This is a subtle, but extremely important point. I am not talking by hyperinflation, I am talking by "regular" inflation like 4-6% a year. This would be enough to derail all of the Fed plans.
Michelle CC on CNBC said earlier that a credit default swap is going to happen regarding Greece.
No avoiding it.
Any ideas of the ramifications of this?
Market levels, etc.... ?
Is it "priced in"?