Portugal, Italy, Ireland, Greece, and Spain have the opportunity to make a deep correction. I suspect it will only create a slighty above normal correction of 5-10%. Additionally, it feels like there are a lot of profit takers who will just use this as an excuse to sell. If this is true, now is the time to sell hated stocks and especially those with mediterranean markets. In my case EUROX and possibly C both might be influenced by the south europe debt contagion. Not sure what else.
Let me know your thoughts?
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