Italian interest rates surging above the 7% made huge selloffs on the markets on Wednesday. Once again headlines continue to dominate markets mood. The markets, however, quickly recovered from Wednesday’s damages after several rumors that Italian Prime Minister Silvio Berlusconi would resign if a package of austerity measures sought by the European Union was passed.
I got stopped out hard on Wednesday and managed to recover some part of my gains back. I still, however, got defeated by the market this week. The S&P 500 has changed from 1,253.23 to 1,263.85 (+0.85%).
My portfolio value has changed from $57,087.89 to $57,328.67 (+0.42%)