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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 680.44

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Dec 19 4:00 PM EST

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To: fred woodall who wrote (23040)	8/7/2011 2:28:17 PM
From: locogringo	1 Recommendation Read Replies (2) of 220490

Standard and Poor’s contacted the Treasury Friday at 1:00 to let them know of the downgrade per Fox Business. I'm still hoping it will be a non-event by Monday. There might be wild swings both ways, and then wind up flat. Asian markets will tell the story, since the Mideast markets were closed earlier in the week, and were catching up. Being downgraded by one of three agencies is not the end of the world, and the White House is doing it's best to trash S&P and make the downgrade look political. The huge mistake in math, and their previous recent history does not make that company look too good anyway. Now France is expecting a downgrade, if the US is going to be the new standard, and I would expect more. As I said the other day, AA+ may look good in a week or two. (as good as Zimbawe) I'm more worried about the latest news out of Berlin, that doesn't think there is enough money to bail out Italy. That is going to be a problem. dw-world.de

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