Equity markets rejoiced all of last week as the cloud of uncertainty looming over the Greek debt crisis appeared to be shrinking. Euphoria quickly evaporated this week however, as equity indexes resumed their volatile ways thanks to resurfacing Italian debt woes. News of Italian Prime Minister Berlusconi resigning lifted stocks on Tuesday, although investor confidence in the Euro zone deteriorated significantly on Wednesday as yields on 10-Year Italian Bonds spiked above 7%. Stock markets plunged as investor worries over the Euro zone escalated, with many worrying that EU leaders are unprepared to potentially deal with a full blown crisis in the debt burdened currency bloc. Gold re-conquered the $1,800 mark earlier in the week, although the precious metal sank alongside stocks on Wednesday, with futures prices for the precious metal closing around $1,770 an ounce for the day.
Checking In: Trading Ideas
This week, our technical trading ideas included long recommendations in a global sector fund and an emerging market equity ETF, as well as a long position in an international treasury offering. Below, we highlight how our trade recommendations from Monday’s Insider have been holding up this week:
Trading Idea #1: Long JXI
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