If the current economic forecast holds, the European Union (EU) is expected to announce next week that the Eurozone has finally emerged from its nearly three-year descent into recessionary territory. The 17-nation currency union should show that it has expanded its GDP by 0.2% over the course of the second quarter of 2013.

Hardly a staggering rise, but considering that growth has either stagnated or shrunk over the last several years, including the recent string of six straight quarters into negative territory, the gains are sure to be widely heralded.

“Nothing like a little judicious levity.”-- Robert Louis Stevenson

A few weeks back, when word hit Wall Street that the Cyprus government planned to impose an across-the-board tax on the depositors of its two biggest banks, the major indices fell sharply and quickly.

daniel / Tag: PSCT, SOXX, FDN, TECL, IGV, SMH, FXL, QTEC, Technology sector, Eurozone, Cyprus, ECB, EC, TROIKA, IMF, European Union, EU, PIIGS / 0 Comments

“There are only two mistakes one can make along the road to truth; not going all the way, and not starting.” -- Buddha

You may forgive Wall Street if it is acting a bit giddy as of late. It has just come off one of its best first quarters in over ten years, and after the wild ride of 2011, who can blame it for a round or two of light-headed celebration?

daniel / Tag: AA, AAPL, COMP, DJIA, euro-zone, European Union, EWP EU, IEV, LTRO-1, LTRO-2, PIIGS, SPX, VGK / 0 Comments

ETF Periscope: Benny and the Greeks

“Why don't they make the whole plane out of that black box stuff.“  --Steven Wright

Ben Bernanke struck out swinging.

Next up: the European Union’s heavy hitters. How they handle the curve ball will go a long way toward establishing the market’s direction for the upcoming week and, most likely, for the remainder of the year.

ETF Periscope: Greece is Still the Word

“Do you want to know who you are? Don't ask. Act! Action will delineate and define you.”  -- Thomas Jefferson

Are PIIGS About to Get Poked On the Street? (The Sequel)

by Daniel Sckolnik of ETF Periscope

“There are only 3 colors, 10 digits, and 7 notes; it’s what we do with them that's important.” --   Jim Rohn

daniel / Tag: DJIA, ECB, ETF, European Union, FXE, Greece, IMF, Ireland, PIIGS, Portugal, S&P 500 Index, Spain, SPX, UUP, VGK, Wall Street / 0 Comments

“I went to a bookstore and asked the saleswoman, "Where's the self-help section?" She said if she told me, it would defeat the purpose.” --  George Carlin

Was that a loud squeal that was just heard down at Wall Street?

daniel / Tag: DJIA, ETF, European Union, Greece, IMF, Ireland, PIIGS, Portugal, S&P 500 Index, Spain, SPX, Wall Street / 0 Comments

Between a Rock of Gibraltar and a Hard Currency Place

by Daniel Sckolnik of ETF Periscope

“I used to jog but the ice cubes kept falling out of my glass.” -- David Lee Roth

Careful what you say. The markets are pretty sensitive right about now.

Could I Interest You In a Slightly Used Parthenon?

by Daniel Sckolnik of ETF Periscope

“I do not believe in a fate that falls on men however they act; but I do believe in a fate that falls on them unless they act.” -- Buddha

daniel / Tag: DJIA, ETF, EU, European Union, FXU, Greece, IAT, IMF, IYM, NASDAQ, RTL, S&P 500 Index, SPX / 0 Comments