by John Galt
June 18, 2012 13:05 ET
Everyone break out your ASE 1000 party hats because any day now this sucker is going to double!
The massive 3+% rally is on this five year chart, uh, er, somewhere on the chart below provided courtesy of Bloomberg.com; one might want to grab a magnifying glass to find it.
To quote Jim Cramer “BUY! BUY! BUY!”
Because there are still thousands of suckers dying to sell to anyone in Europe. The ASE is a symptom of a larger problem which is that the entire Southern half of Europe is sick and soon to experience an economic shock far worse than the five years of recession they have endured under mediocre Socialist-Lite government insanity. The reality is that when this market finally rolls over, it will bottom at between a 97-99% level with only the very brave gambling the nation will not disintegrate into total chaos and civil war.
Of course there is money to be made in a civil war so if Germany needs to sell weapons to both sides, look for more trouble shortly.