Greece's voting referendum will cause a Greek hard default. The Greek people will definitely vote against the bailout.
You better hedge on the downside, because we're going at least 1,000+ points lower this week. (including yesterday).
The DAX is down -350 points on the Greek bailout collapsing.
I don`t believe you! You always Lie! You are Disillusioned! Your Track Record is a Disgrace! You have NO CREDITABILITY!!!
I`m back on board this AM with my Sweetheart USG @ $8.6699...
Now stop Moaning and COVER your PUTZ!
You will be very sorry for being SHORT.
Brace yourself for a Monster Rally!!!!!!!!!
How's that monster rally working out for you ?
According to CNBC, Greece is about to dissolve their gov't.
Though I think YOU should stay long, because I need a good laugh.
I bailed on my UWM long etf's in the premarket and bought FAZ.
FAZ is a ETF that shorts Banks. (in case your looking to protect your self). FAZ is currently up 11.3% at $44.33
No, on paper I'm temporarily losing but I just bought more SFSA when the DOW popped above 200.
Greece just blew their chances of a bailout and now they'll have to vote in a new gov't which will cause 30 days of uncertainty.
Plus I can hold these ETF's until Italy hits the wall in early 2012.
How about you, how are you doing in this market and what stocks are you buying ?
Yea, I'm temporarily stuck in my IBM April 170 Puts that I bought for $17.
Greece didn't implode as quick as I though it would. However now it's guranteed, thanks to the PM. I'm just wondering how long it will take the stock market to realize that there's a tsunami coming.
A few day's after the crash, Bernanke should implement QE3. Though I doubt it will stop Italy from collapsing from the contagion.
Boy -- IBM has such low back & forward p/e's you must have expected bad earnings news. So much of its revenue is recurring, annuity type cash flows. Since FAZ has tanked to the low $39's you must be hurten for certain. It may be time to cash out and reconsider your strategy. The ECB rate cut is a new factor. And when the Greeks realize that if they drop out of the Euro they will see their economy revert to a pre-WW2 agrarian platform, they will probably vote to stay in. Because how may of whatever the new Greek unit of account is (Drakmas?) it is going to take a ton of them to buy a new Toyota. Grease would have to back new debt with gold.
But I don't believe enough in the above to bet big that it will be a good outcome. The fact of your confidence in the opposite outcome in the last month or so doesn't seem to have matched the big market moves. To win your game you have to have great timing and luck. You're betting against the pros on the street who have the best of everything going for them. All they have to do is get a few more trades right and they average out of Q4 having met profit targets -- the home gamers are part of their wake. You seem to trade way to much dude. It's the incredibly bright and well equipped kids at Goldman Sachs who get rich quick.
" when the Greeks realize that if they drop out of the Euro they will see their economy revert to a pre-WW2 agrarian platform, they will probably vote to stay in. Because how may of whatever the new Greek unit of account is (Drakmas?) it is going to take a ton of them to buy a new Toyota. Grease would have to back new debt with gold."
"IF" the Greek PM loses the vote of confidence, I'm expecting Greek citizens to make a run on the banks. Just for the reason's you outlined above. The first bank to collapse will spread the contagion to the other PIIGS.
Or I may be stuck in FAZ until Feb 2012.
Greek PM, opposition reach power-sharing deal
Greek PM, opposition agree to form interim government; Papandreou to step down
New PM's for Greece and Italy means the market will stablize and for a short time and go higher. That will last until the market realizes that these 2 new prime ministers don't have a clue on how to fix the debt problems.
I'm sitting in cash until The "Super Committee" drops the ball on Nov 17th or until I hear how Black Friday sales go.