Sell The News, The Rally Is Flopping Already


Photo: jomilo75 via Flickr

Classic.Everyone bought into everything ahead of the big Greek vote. It passed. And now markets are fading.

The NASDAQ is flat. The Dow is up ust 20 in early going, after looking at one point like it might be up nearly 90.

Nothing too dramatic, but just really unimpressive action.

Bank of America, which had been looking like it might jump 6% in the early going — after that big settlement — is up just 3%.

Oil had been around $94, and now it’s at $93.50.

Again, this is not some major selloff, but just a comeback from the austerity-euphoria we saw earlier.

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