Smart Money with Keith Springer Saturdays at 1PM and Sundays at 6AM on NewsRadio KFBK 93.1 FM and 1530 AM

Market Brief – The world in turmoil


The markets are acting crazy again today on the increased tension between North and South Korea. We haven’t had a geo-political event in a long time, and unfortunately they always jolt the markets. In the end, nothing will come of it. Kim in North Korea is simply puffing out his chest and to get some attention. We have thousands of troops stationed there with enough weapons to put…or rather keep North Korea in the Stone Age.

The European banking crises is also weighing on the markets, as 4 Spanish banks said they would join due to a push by regulators to merge with stronger partners. Although the European banking crises is a serious problem, they don not have tons of unknown toxic assets on their books like we did 2 years ago so it won’t be as bad as some are predicting. Yes, Greece will go through a depression, but it won’t bring down the EU or the world.

As for our markets, they are actually doing OK, having successfully retested the recent lows for the second time this morning, which I mentioned was not only likely but necessary in my last week’s commentary. The funny thing about corrections is that everybody agrees that we need them, but when we are in their midst people freak out. although that’s a bad thing for our hearts, it’s a good thing for the markets. In fact, it is very likely that we are finally seeing a selling climax or capitulation here, with a strong rally soon to follow. In any event, we are prepared for both scenarios.

Feel free to give me a call with any questions or concerns.

-Keith Springer, author of Facing Goliath

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