Euro Bears Are Getting Smoked, And It's Too Painful To Watch

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).

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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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