It is not a good idea to listen to the hype from TV and try to rally the market for a worthless reason, e.g. the US may not default for a while is not really good news.
Greece has already defaulted, Italy will default soon, Spain probably next. The question is whether or not the banks can get out in time while selling the worthless securities to widows and orphans. That works sometimes, but the widows and orphans are smarter these days and the banks will need to take a huge bite of the proverbial xxxx sandwitch.
Just don't be part of the bank when it takes the bite!
NASDAQ is a high beta play on the cyclical world. The cyclical world is in a bad cycle.
Don't get left out!
