Markets are trending sharply higher this morning as the EU with the IMF put forth a nearly $1 Trillion bailout package to stem the rising crisis in Greece and the rest of the euro-zone. This has helped assuage near-term fiscal concerns which are helping the euro vs. the dollar, but at the end of the day this is not a solution but more kicking of the can down the road (did they solve Greece’s problem, no). Is anyone noticing our can is getting pretty flat with all this kicking, and now isn’t rolling as well these days? Energies are reacting as they should given the Dow is up nearly 400 points, but with gains of only $1.50 to $2/bbl in crude to levels just above $76……we wouldn’t say the complex is quite as bullish as the outside markets would otherwise indicate.
Maverick Energy
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