When something is confusing or incomprehensible, a person might say, “It’s all Greek to me.” Well, that’s exactly what investors have been saying for the past several days—in the market’s inimitable way. Despite promising economic and corporate news in the U.S., the headline risk from Europe has been just too much to bear. It is keeping the bulls at bay, and front and center for an encore performance is Greece.

A weekend of more election surprises in Europe, as a socialist candidate won a key state vote in Germany, threatening Prime Minister Angela Merkel‘s stance on austerity in the Eurozone. The Greek “leadership” has all but abandoned hope of forming a new elected government, likely requiring yet another vote.

Last week I noted that there wasn’t much new to say about the stock market and its drivers lately, but like washing your car tends to attract rain, my comments were immediately followed by anger-driven election results in France and Greece. Both of these elections were about a rejection of austerity mandates placed upon a citizenry already feeling severe pain. The thought process is, “If the U.S.

Today’s trading began amidst a multitude of unpleasant factors.

Have you noticed that there hasn’t been much new to say about the stock market and its drivers lately? Bears are weary from calling tops that don’t follow through, and bulls are hesitant to inject more cash until they have a more inspiring catalyst. So, we’re pretty much left to wonder whether the overworked mantra “Sell in May and go away” will be a self-fulfilling prophecy…or a contrarian catalyst for the bulls to get busy again.

Despite last week’s little rally, April showers have dampened market. While it didn’t build into a torrential downpour, it steadily showered investors with worse-than-expected economic data, including last week’s dreadful Durable Goods Report (-4.2% compared to last month’s +1.9%), continued but minor increases in initial jobless claims throughout April, and a disappointing initial Q1 estimate of GDP (+2.2% compared the previous quarter’s +3.0%).

"The Pain in Spain: More Room for a Short ETF Bet?"

Sabrient's Daniel Sckolnik was quoted at length in this article by Ronald Fink in Institutional Investor:

Apple. Need I say more?

Walmart-Gate, Dutch-Gate, Netflix-Gate, Exit-Gate!

This could be the “exit gate” but probably not.  Over the weekend, the New York Times released a blockbuster story about Walmart’s (WMT) alleged massive cover-up of serious violations of the U.S. Foreign Corrupt Practices Act involving more than $24 million dollars in bribes to accelerate store openings and bypass permit and zoning practices.  The stock was down 4.55% today, at $59.54.