I mentioned a couple of times on Monday morning that we should be cautious of the Egyptian turmoil playing with our market ‘psyche'; many started to comment that the euro’s rise had lulled us into a false sense of security; the prophets of doom soon come out to play.
Until then we had been in a fairly strong trend…well we soon found out that nothing had really changed but the market was briefly spooked … even Goldmans reversed their view out of caution….we only need them to reverse back again and who knows where we go…tho’ remember that when/if they advertise that they are bullish again, they will have already bought !
Every time a geopolitical…think Korea, Egypt, Australian floods etc..occurrence happens…it isn’t long before they are soon forgotten….
