Today felt like the bears were taking a bigger hold on the markets and pushing it lower on concerns that the Greece bond market is tarting to show signs of weakness. There is uncertainty about the selling of Greece bonds and bond yields have reflected this uncertainty by increasing 0.60 percentage points to 6.86% this week. QCOM also reported lower than expected earnings and gave a cautious outlook for the first quarter causing technology stocks to move lower.
Despite good earnings from AAPL and other companies the markets are not paying attention to earnings but to government bond mark ts. If Greece turns out to be the first government default then the question becomes will other countries in similar situations follow? If that's the case we will see a major market correction where fear and uncertainty are guiding global markets.
In any case I'm still long the US equities markets. When i get signs and confirmation that the sell off has ended i will start buying Technology and Commodities related stocks.
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