European stocks were little changed near an 18-month high as Fitch Ratings downgraded Portugal’s credit rating, offsetting growth in the region’s service and manufacturing industries and German business confidence.
Everybody who thinks the EU (specifically its strongest economy, Germany) has the willingness or wherewithal to bail out two bankrupt countries, raise your hands. Okay, now all of you with your hands up go buy some euros or shares of EFA. I will do neither of those things, which is why I'm not shorting puts under EFA anymore.
