More market confusion

Yeah, this sums it up.  Source: Google images.

Yeah, this sums it up. Source: Google images.

I’m confused.  Let’s review:

Despite:

  • Greece, despite some excellent game theory usage, looks ever more likely to drift into capital controls at the very least, and perhaps full ejection from the Euro.
  • Ukraine’s ceasefire lasted…oh…a few hours.
  • US equity markets now trade somewhere around 20-21x earnings.  Well above long-run average.

In sum: these moves kinda give me the heebies.  Glad to have a system trading for me.  With the long-run portfolio, I’m slowly but surely decreasing exposure to equities.

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