Brian

Yes many countries in Europe will face problems as well.Also belgium its debt burden is again worsened by the latest bail out with the Fortis bank trouble and the help for some others.But Belgium has not much foreign debt but indeed the State has to reshape it's balance sheet probably with higher tax rates in the near future.In Belgium the state has great debt problems but the citizins have still a high average amount of saved money and more then 85 % has his own property .Most citiizins have no big portions in stocks more in other kinds of funds or safe pension funds.Don't know about other countries in Europe.

On chart view for CLL it looks not bad at all.Today wee crossed the 50 % fib level and are very near the 62 already.Once trough that the way is open for the 1.65 region again.With no bad news before march 18 we normally would be there by then.Volume also not bad today.For me the weakening of the € is very good as well .

Jobless figures were not bad too so the indexes are also on the way to their previous top.I think until summer momentum can be good .Dividend season in Europe is around May so that could support markets as well together with hopes on some better Q's.

After summer however i don't know what to think.Talked to a superior today and big orders right now are not in the pipeline so far.Because we make catalyst mostly for refiners it's not such a good sign.

We will see if the chart players and analist are corect for their downturn view after summer.But right no sign to step out.