Friday, January 29, 2010

Concerns Over Greece and the Euro Trade

The crisis over debt in Greece is not going away. The euro currency (vs. USD above) has become a nice sentiment indicator for that concern.

As long as we see broad selling of the euro and a flight to the relative safety of USD, I'm wary of the market's long side.

My concern is that stocks just aren't pricing in enough volatility given what the currency markets are telling us.