So now they tell me why the S&P rose 30 points from noon to close yesterday.

What is the appropriate proverb for this? "The news follows the price"? "Too late by half"? "Prediction is easy–after the event has occurred". "A stitch too late helps no fate"? "Better late than never"? "Better to be late than risk being wrong". "It is easy to be wise– after the event"? "Wait before you leap". "A prediction after the fact is never wrong"?

Okay. Thinking about it leads me to believe that one of the most important things for summer markets is to wait. Sit on your hands. Don't trade until half an hour has passed?

"Finland's Stubb Optimistic Greek Bailout Deal Will Be Reached"

2015-08-13 09:45:26.142 GMT

By Chad Thomas and Raine Tiessalo

(Bloomberg) — Finnish Finance Minister Alexander Stubb expressed optimism that a deal will be struck with Greece in the coming days, allowing the government in Athens to meet debt payments later this month.

"Things are looking much better right now," Stubb said in an interview on Thursday in Helsinki. "We have indicators that the Greek government is more serious now. The path towards recovery has started. It is going to be long but we have weathered the worst of the storm."

Stubb said he's confident that euro-area finance ministers gathering Friday in Brussels will be able to reach either a conclusive deal to provide 85 billion euros ($95 billion) in aid or at least extend a bridge loan to the country in time for Greece to make a payment to the European Central Bank of 3.2 billion euros next week. Germany's government on Wednesday withheld approval of the draft bailout plan, saying a bridge loan remains an option if a full aid program isn't agreed in time for the ECB payment.

"We are quite agnostic about which one is used," Stubb said. "If more time is needed we can do that. If we can already now verify that the measures that have been agreed by the Greek government and the troika will fully take place, we will probably be willing to give a green light to the program."

John Floyd writes: 

Build a strong foundation of knowledge of what is driving the European macroeconomic and geopolitical cycles and how market will respond. Analyze how the opponent is moving and perhaps it is better to attack the single or double corner. Perhaps the attack is directed to the currency markets as in the past year. Or, rather, perhaps the attack is directed to the rate markets as in years prior. The opponent continues to move and play the same strategy. You remind yourself as Einstein said "Insanity: doing the same thing over and over again and expecting different results". But, there is a time to press the position and there is a time to wait out the opponent's hubristic bad moves. Stick to the knitting of the core repertoire that are the main arrows in the quiver.





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