Tuesday, May 15, 2012

And it begins... the run on Greek banks

What was a positive day for equities has just gone negative. I won't give numbers, because they're not official; but one thing is clear, its fear of the Greek bank run.

Gold has made new lows on the day, the S&P is down about 6 following a day where they were up as much as 13. Can't blame the Greeks, I would've done the same thing. What is most impressive to me is that the sell-off has not been more drastic. The thesis continues; sell your risk assets.

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