Jupiter/Uranus fuels baseless optimism

As I predicted would happen when Jupiter (confidence and optimism) combined with Uranus (sudden changes and abrupt shifts), financial markets suddenly decided that things aren’t so bad in Europe after all and global markets are soaring today.

This sudden (Uranus) optimism (Jupiter) has nothing to do with reality and is all perception.  Perception drives the markets anyway, but today experts are saying things like

“It looks to me like stocks are passing the fear phase here over Europe and China,” said Jerry Harris, president of asset management at Sterne Agee. “China does not need to mount a big campaign to re-accelerate their economy. All they’ve got to do is take their foot off the brake and I strongly suspect they’re in the process of doing that.”

Markets can go up as quickly as down, and this is likely to be the final ride before Saturn squares Pluto one final time in August and drags the optimism level down again.

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By | 2010-06-14T11:25:11+00:00 June 14th, 2010|Money and markets|Comments Off on Jupiter/Uranus fuels baseless optimism
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