Unemployment a very big worry for Europe; TVIX, TZA, FAZ

Today France unemployment rate hit the 12 year high, showing the sign of further deterioration of its economy. France and Germany are already in recession based on PMI data.

The unemployment situation in Europe is getting worse; Greece unemployment rate is at 18.3%, Spain Unemployment rate is 22.8%, Ireland unemployment rate is at 14.3%. With massive debt and high unemployment, Euro is able to survive somehow because of the greed of the wall street and its know govt is going to print free money for them. The day Wall street decide that they have enough people on the board, they will sink the economy.

Today China Shanghai composite hit two year low. On Friday we saw the lowest volume for Dow for 2011 and we can expect the same till Jan 3rd.

US economy data to watch out: 

S&P Case-Shiller HPI (9:00 AM ET)  -0.4% is expected, 0 or positive is bullish sign, lower then -0.4 is bearish sign.

Consumer Confidence (10:00 AM ET) 59 is expected, lower is bearish, higher is bullish sign.

Dallas Fed Mfg Survey (10:30 AM ET) Business activity & production index of negative is very bearish sign while a positive will be bullish sign.

This stock market is still not safe either for long term investor/ short term investor. Its better to stay away for awhile and enjoy your holidays. I am still very bearish for this market as the economic data coming out points out further weakness in global economy. Sooner or later Wall street will go down and come to reality.