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Will Spain Pop the Question This Thursday?

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Before we get to October, we could use some help from our friends in Spain, who could use some help from the ECB.

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Wall of Worry -- Text Only

QE:
Under the heading of "Go Strong or Go Home," the US Federal Reserve has just bolted away from home -- far, far away from home.

US ECONOMY: The envy of many around the world. Can you imagine what we could do if we had an actual economic plan?

MONDAYS: The markets have been down on the last 15 out of 16 Mondays. Welcome to "The Matrix."

UNEMPLOYMENT: "You need a busload of faith to get by…"

INVESTOR SENTIMENT: Still more interested in cupcake cooking shows and screaming show-moms than stocks. Totally understandable.

HOUSING CRISIS: Housing permits up, housing starts up, housing prices… kinda up if you look real close and include inflation and don't include foreclosures, short sales, and houses with less than two garage doors, and….

EUROPEAN ECONOMY: With Germany's economy getting pulled south by the southern states, how about a little unsterilized "Quantitative Lockerung"? (The German answer to QE.)

THE EUROPEAN UNION: European stocks up, up, up. Can we go back on vacation now?

SOVEREIGN DEBT: Ten-year yields in Spain and Italy flirting with sub-5% levels. If Greece goes sub-20%, I guess we can sound the all-clear horn.

SPAIN: My Uncle Ziggy always told me that admitting you need help is sign of strength, not weakness -- something to be rewarded not punished…. Then he'd ask me for a couple hundred bucks.

VOLATILITY: Bumping up a bit but most often during the overnight session so only the true Vampire traders are taking the ride.
Position in SPY, QQQ, GLD
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