Forget About Italy and Greece, Spain Next on Agenda
We have long said that the risk vs. return potential for this market is heavily weighted toward the risk side. We could get some more upside here but it would likely be capped by all of these problems in Europe. On the other hand, the downside is immense. Until the market dynamics change it just doesn't make sense to take risk in this type of environment. Wait until we get to a period where monkeys throwing darts on the Wall Street Journal can make money.