Let's face it, Greece is going to be a tragedy one way or another. It is only a matter of time. Can you imagine someone wanting to borrow more money so they can help pay back the loan that they already can't pay back? Does that make any sense to anybody, anywhere on this planet?
Well, that's exactly what's happening in Greece right now and in my humble opinion, it is only a matter of time before it implodes and Greece exits out of the euro zone. Fiscal responsibility is not a word known in the Greek language. There is no way that Greek citizens are going to ante up and volunteer to pay more taxes, they are too used to getting free things from a government which they do not trust. That, my friends, is why socialism does not work and in the immortal words of the late British Prime Minister, Margret Thatcher on socialism, "sooner or later you run out of other people's money". And that's exactly what has happened to Greece.
So how is Greece going to affect the markets? Well, I could make up a big story and tell you that I know exactly what's going happen, but the reality is I don't. What I can say is this, the markets will tell you what is going on, but you have to listen to them. Remember, the market can only do three things, it can go up, down or sideways, that's it. My job here at MarketClub is to help you get the direction right with the use of the Trade Triangle technology. When the last big downturn hit in 2008, the Trade Triangles nailed it and kept our members successfully out of the market while others were trying to catch a falling knife.
Last week, I watched a big run-up in gold and silver which I had been alluding to earlier in the week. Here's the question, will there be a buy signal for gold this week to match silver's that just triggered today? I will give you an exact buy level in spot gold that you can track. I'll also take a close look at silver as it could be leading gold on the way to the upside.
In Friday's video, I picked out four stocks based on the "52-Week High on a Friday rules". Here are the stocks I picked out:
Biogen Idec Inc. (NASDAQ:BIIB)
Nike Inc. (NYSE:NKE)
Darden Restaurants Inc. (NYSE:DRI)
Lennar Corp. (NYSE:LEN)
I will be looking at those four stocks to see how they are doing in today's video. I will also be looking at the major markets and, of course, what's happening to the price of gold.
As always, I appreciate your comments and feedback, so please feel free to leave your comments below this post. Many thanks and have a great trading day.
Every success with MarketClub,