If it weren’t for the fact that we’d get hollered at by animal rights people, we’d have no choice but to post a picture of a dead bear right now, because euro bears are simply getting smoked right now, starting with the currency.
There’s kind of a perfect storm. Governments are coming together to backstop the PIIGS, Trichet is hinting at rate hikes, and evreyone was bearish (so, shortsqueeze).
If you’re looking for a really spring-loaded bet on a PIIGS rebound, look no further than Banco Santander, whose stock has just gone nuts the last two days.
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