Tuesday, June 21, 2011
Sell The Rally
"Stocks up on news of a Greece settlement," read this morning headlines. Stocks are cheap, no doubt. But, stocks are cheap for a reason. Economic policy in the US threatens to push the economy into a second recession and Europe is turning a small problem into a potential financial conflagration. This rally is going nowhere. Sell it and wait for more rational times (or even cheaper stock prices).