Bad News for the Leveraged Casino Business ~ The Risk Averse Alert

Thursday, December 15, 2011

Bad News for the Leveraged Casino Business

Still absent technical evidence detracting from the present prospect that, the market could sink like a stone going into the New Year and at the start of January, Friday's trade nevertheless seems likely to see another day consolidating, much like today. This is not to suggest major indexes might not close on their lows for the week. Rather that a 5% drubbing does not appear in the cards tomorrow. Maybe next week.

Hey, have you heard that, in some circles within the Republican party there is a loud cry calling for bankruptcy reorganization of Fannie Mae and Freddie Mac? Check it out...

So much for last week's EU appeasement protecting holders of EMU sovereign debt from any future haircuts. Apparently some in the United States finally are coming to their senses, taking their appeal for sanity before a national audience. This is very bad news for the leveraged casino business. God help us these coming weeks and months.

Fast Money
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