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The market was range bounded last week, market sentiment was the same. Bulls said the Cyprus is no big deal, U.S. GDP creates a new Cyprus by lunchtime. Bears worried that it could be the grand opening of the Pandora's box and the disease will soon spread to other corners of Europe. As of today the binary bet is whether a deal will be reached this weekend.
The today-up-tomorrow-down market is similar to a duel of two gamblers who fearlessly raise and re-raise every card dealt to them. While I don't know who will win, what I do know is one will lose his shirt at the end. So if you don't have a big stake tied in the game, the best bet is to fold. You may not win, but you will never lose.
Doubtlessly the winner will become the legend. His vision and determination will be told over and over again. What is never told is the many folds that keep one surviving.
现在就是个binary bet:周末出不出deal。除了那些上周五高点开空的和周二低点抄底的,其他人都是没有资格赌的,趁早收了吧。 |
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