Tuesday, November 1, 2011

A Greek Hiccup and PRIS

Well, it seems Europe has experienced the temporary (probably) toe stub I mentioned last time.  The Greeks want to vote on the bailout and now some folks are wondering whether the funds the EU plans to commit are enough.  Given the time scale for the EU rescue playing out, this should provide plenty of volatility in the markets for some time to come.  I don't say this from any expert knowledge of the EU crisis.  Far from it.  I'm speaking as someone who asks:  how will the news on Europe be reported?  Rescues, followed by toe stubs.  In short, volatility.  And if the rescue ultimately fails, don't be around that day.  PRIS, a stock I've mentioned before looks to have been unfairly punished today.  It's below $4.  It's worth more than that as long as Europe doesn't descend back into the dark ages.

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