Expect Choppy Trading While Economic Conditions Deteriorate - Get Short Below SPY 108!

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Yesterday, the market sold off after testing resistance at SPY 112. Europe is casting fear on the market. Germany, the strongest and largest EU member reported that business sentiment declined in February. Two weeks ago it reported that Q4 GDP was flat. These results were confirmed when Commerzebank (second largest German bank) reported a large loss yesterday. The credit crisis in Europe is spreading. Greece will need to issue new debt soon, but it is afraid to. After their last bond auction, interest rates spiked and a huge risk premium was priced in.

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