The Ice in Davos ~ The Risk Averse Alert

Wednesday, January 26, 2011

The Ice in Davos

You can almost feel the strain of that concentrated interest of terribly weak hands whose one trick pony does its best "little engine that could" imitation while passengers and onlookers alike regale each other with fantasies of invincibility, such as those who rode Titanic similarly enjoyed right up to its end.

Sure, the boilers still billow smoke and the lights remain on, but in Davos they're kicking around chunks of ice. No doubt, both Trichet and Soros today expressed their minds' delusion in a manner fitting this gravely damaged ship most still believe is the unsinkable trans-Atlantic financial system.

NYSE 5-min

If my eyes serve me well, it appears the lot of weaklings desperately dribbling their equity exposure to an even weaker crowd are running out of paint allowing their further continuance. So, the negative day that, yesterday was thought possible today finds technical grounds for more likely developing tomorrow.

Fast Money
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