RE: Why isn'tGeneral risk aversion in the market. Everyone is being conservative as they are worried about Greece and China. Same theme as the crash in January. IMO Greeces worries may be legitimate, but the markets reaction isn't. Greeces entire debt (not deficit) is 220 billion. China grew 150 billion of GDP last Quarter. For Greece to default completely is highly unlikely.
In the meantime the conservative move is to buy USD. IMO that is laughable. So the China worry is real I guess. If you think the Chinese are going to give up apartments, cars, cell phones, and go back to rice farming and building Dams by hand.
IMO we are just consolidating at the 12000 level on the TSX. There is still a good bit of room market wide and ERD has nothing but blue sky. The bull isn't called a nice old saddle horse for a reason.