US equities saw a rather important day of gains... with a notable gain of 1.2% for the Nasdaq Comp', a new post 2009 high... bringing it within 275pts (5.6%) of the spring 2000 high of 5132. With the Greeks set to capitulate to their German/EU masters, the door is again open to the sp'2100s.
Nasdaq comp' monthly, 20yr
sp'monthly
Summary
You know... for a moment... just a moment, I actually thought maybe the Greeks might finally stand up for themselves.
.. but no. From the many leaks (especially the intentional ones), rumours, and other 'educated speculation', it would seem the Greeks will do as they are told.
The new Greek leadership will soon renounce on the very things they promised those who voted for them.
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Looking ahead
The week will conclude with import/export prices and consumer sentiment.
Fed official Fisher is speaking, but it appears it is more of an 'aren't I great after doing ten years at this job?'
*With the market closed next Monday for 'Presidents day', there will be some of the usual pre-holiday trading issues. Trading will likely be increasingly choppy and light in the afternoon. The only issue to counter that is 'who wants to hold across the weekend'.. with the EU resuming Greek talks next Monday.
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Goodnight from London
