It’s fun to watch people handicap Greece. The country has been broken for a thousand years.
This weekend was asking people on Coronado Beach what would happen today because of Greece. To be generous, I would call 99 percent of the responses blank stares.
My world I guess is flooded in Greek Discussion ($GREK).
The discussion is mostly over my head. What matters to me is the price when the discussion gets this intense and dominating.
Last week had me thoroughly confused with the market action, but I was focused on the wrong stocks. If I had just been watching the price leaders, I would have been less bearish on the markets in general.
By watching Goldman Sachs and a few imploding retailers I was missing the much of the strength in biotech ( $IBB $XBI which have led consistently since 2008), selected large discount retailers as well as software and medical stocks.
Today, I highly doubt that much if anything is settled in Greece, but the leaders keep on leading.
For 99 percent of us, the headlines don’t matter, what matters is you know where to look and how to look at it. Last week is a reminder to me about how to stick to the basics, especially when the headlines are declaring the end of the world and everything is coming down to one event.