It has been quite a time since early May. Look at all that has happened. 1. The oil spill proved to be worse than first thought, 2. the S&P 500 is off 10% from the high (that’s an improvement from down 14% 2 days ago), 3. the European issues seem almost intractable, 4. Goldman Sachs problems have degenerated into pointing and shouting which will probably give rise to 5. a new financial regulation... 

Almost all of the analysts pronounced that yesterday’s market disruption was related to Greece’s troubles. What’s more both Portugal and Spain, whose economies have slowed and whose debt levels have increased, are also mentioned as potential trouble spots. Greece’s sovereign debt was downgraded to BB+, below investment grade and Portugal has been downgraded to A- from A+. So, what went wrong... 

Market Technicals Where is the market headed? 2010 is going to be a volatile year for investors. The federal government is running trillion dollar deficits and issuing massive amounts of debt. With interest rates near zero in the short end of the market, it would appear that they have nowhere to go except up. The only economic strength that was seen in the...