Rumor has it that Greece to default over the weekend. Thus the market has tanked out of the gate this morning!
I don't know the truth. But that's just how it has been for this market so far. Anyone could come up with an idea and the news wires are very quick to pick it up.
It seems to me, tho, when the Germans and ECB chose to criticize Greece yesterday of all days, they must have been ready for any trick Greece might pull. And it seems to me "they" want Greece to opt out of the eurozone. But "they" really can't force it out.
So, it's a very tricky situation over there!
My point, of course, is that Euro's structural flaws were well-know for many years. It's a problem they have been working on. You wonder why the German parliament endorsed the plan to expand EFSF, with a resounding vote of YES this morning!
I'm kind of disgusted by the way the media has been riding on the Euro crisis. It has become a full-blown negative feedback loop.
Did you see Cramer's latest? You wonder why the market should not be in panic mood every day, there's your answer.
If you only listen to those people, you would have to ask why Euro is still trading at a premium over the USD.
This topic was intended mostly for traders, although investors will also benefit to know certain things, thus should be read in real time.
I don't have time to read the majority of the "replies", which were mostly from those on my ignore list, and their focus was mainly "bashing" h_grant_h - a reflection on themselves.
My focus has always been on trading and investing. As such, you should also ignore most of the "replies" - they're mostly from those adult-children who don't belong in the stock market.