This European problems has been giving us a lot of headache. I still believe, the current solution for Greek Bailout will just be temporarily and be a bad decision for long term.
As what I have said last time, Commodities also play huge in accordance with the stock market, WTI Crude just went to 92.xx today this opening bell, and we SHOULD be expecting a 2.00 roll-back from gas/diesel prices, what the hell is wrong about them? SO fast in increasing prices, yet not reactive when price drops in global market.
Like Dow Jones, WTIC is also very near to its 90 support, a breakdown of this market would also give huge impact to Global markets. So a bounce to 90 USD, and a bounce to 11500-11700 of Dow Jones would be needed in order for this bull market to continue.
To European IMF: Just lend more money to Greece, with due of 2013-2014. Let us manage to get out by 2011 or 2012 and never look back before this crisis looms.
I may be saying, we did only a 7.5% correction from the peak. As much as possible, I want to wait for the 11500 support, but its really affecting the Asia Economy! Please see below for more info about Asia.
Europe's one of the top 10 investors is China/HK. Maybe the reason that is has dropped more than the U.S. region is that they have more exposures, remember that China is investing more into European Debt and has Greek Bonds ( not sure about the value).
HongKong is poised to breakdown into its short term downtrend and facing the long term Uptrend Line, which should not fall below, or else, this 12.0 PE Ratio (cheap looking), must be pushed up soon or we see great danger here.
China's GDP is still 8.0% and up, what the hell is wrong in this downtrend since 2009? Maybe part of European Exposure, but for me, they should be better than what we are seeing right now.
For PSE, still biased, im avoiding this market, what I've seen in the Asia Region, is enough said that price in PSE is on the "overpriced" side, im looking better into Asia Region with huge discounts, than with PSE market, will no traders willing to sell at an overpriced state ( For Global Traders, you know what I mean, for PSE-only traders, please try to take a look on a Daily basis on Asia , Europe and U.S. Countries also, will help you decide if how Other Countries react in their Equities :) ).
PSE is just well over 8% from the All-time-high. I'm joining the bears temporarily and wait for good correction to the 3xxx level :)
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