Simply because the Greeks told the troika to "Stick It" and said "We will never implement any recessionary measures, particularly not wage or pension cuts". And with that 'wording" Germany says "Bye Bye Greeks".
“The Greek reform proposal/list does not include recessionary measures,” Greek international economic affairs minister Euclid Tsakalotos told the Guardian. “The actions proposed though the reforms list foresee revenues of #$%$3b (US$3.3b) for 2015, which under no circumstances will come from wage or pension cuts.” Lenders have insisted that some austerity measures would be unavoidable if Greece is to avoid bankruptcy, however Tsakalotos said the country was not willing to budge on its anti-austerity philosophy. “Our top priority remains payment of salaries and pensions. If they demand a 30% cut in pensions, for example, they do not want a compromise,” said Tsakalotos, and suggested that Greece would be willing to go its own way if E.U. lenders refused to budge.
No one wants to go long Biotech Stocks when the "Biotech Correction" starts. And its starting now. See you all under $300 a share by Friday close. Its Coming
can't go wrong shorting either one but right now IBB wants to run "WILD" to the down side. Look for panic selling in the Biotech Sector which is way way over bought. Its "Correction" time baby and Spy and IBB are going to correct Big Time.
Just to much "BAD" news out there today for market to stay green. Only question now is it a one day down turn or a trend???
bobwins_o_phile - thanks for the "idiot" post and with you weak guidance I'll be holding half my shares if Tvix hits $2.30 today and selling my other half. Tvix will jump on news the Fed is removing patient. Yea not to $3 but certainly within my range of $2.30 (plus) thus the reason to take some profits and also go long with the other half.
To me that's a hard call since I know Asian markets and then Europe market crashes after hours and tomorrow. So Thursday we open will huge drops in overseas markets. Then the question is do we get a continuation of a market sell off going into Thursday, possibly Friday? The Fed has propped the market up for so so long. With them out of the way Tvix should climb but nothing goes up in a straight line.
So guys are you holding and going semi-long if the Fed says "watch out for coming rate hikes" or are you cashing out your Tvix position before 4 pm or possibly after hours? Thoughts appreciated.
since no one wants to long the market tomorrow with Yellen set to castrate the bulls with patient surgical precession. Yellen wil do so calmly but without proper anesthesia the Bull will pass out from the pain and wake up in "correction land".
Will falling oil prices to continue through out the year or well into the fall, Russia's economy will fall into disrepair going forward. Knowing this wouldn't once think Putin will become extremely aggressive before the rubble goes belly up and take over all of Ukraine and possibly the Baltic States, Belarus. When backed into a corner with a crumbling economy one has to believe Putin says "what do I have to lose" and send his army West to take over as many countries as he can. Only way I see Putin staying in power is to start war with a number of countries so the common Russian forgets about how bad things are (economy wise) in the homeland.
Maybe I'm wrong but when the ship is going down, the captain might just think its time to send out a few missiles (nukes) and see what response he gets.
Don't worry - right now Maximus is pounding the "dove feathers" out of old Yeller (I mean Yellen). So come Wednesday Yellen goes from a post menopausal dove to a hard core Hawk - and yells "Bring on Those Rate Hikes". Seem Maximus but of hit Yellen "fed" spot.
Maximus, Maximus, Maximus
Market a sleep at the wheel with the Fed about to remove "patient" from future rate hike. Now longs playing stock market will like Fed action Wednesday and claim any rate hike will come September or probably October. Problem is if we get stronger number between now and May then a rate hike is coming in JUNE. And Bulls can't handle that. So buy Tvix today for a good size jump (20% plus) come Wednesday. Then sit back and see which way the employment numbers go for the next month or so. It could get real ugly for Bulls if unemployment keeps dropping as the economy slowly improves.
Oh I'm sure some Lesbian relationship will surface down the road with Hilary but maybe first - we find out Hillary's role in Vice Foster suicide. They were reported to be very close and certainly Hillary need a shoulder to lean on while Bill did his thing, The women out and out has so much baggage that she shouldn't run for anything other then "dog catcher".
and could be visiting the doctor for sign of long term "Correction Pneumonia ". Seems every day now as we get closer to June rate hike - market will either sell off big time or flat line. Not a good sign if you're long SPY.
I'd say one for every 5000 emails Congresses forces open (through legal action). So between not and 2016 maybe 10 plus face lifts.
so Greece plays a game of Blind Man's Bluff - but Europe knows what's coming. Its called a major "Train Wreck".
taking meager profit at close today? Market down because of worries of Fed action. Does that carry over into Monday's trading or does market ingest good jobs report over weekend and trade up come Monday. I'm leaning towards holding (long) Tvix but that's hard to do since it trades in such a narrow range now.
Agree - next week we could see a big spike in Volatility as the Fed will come out and not only remove "patient" for wording but also tell markets rate hike coming in 2 to 3 months. Boom Tvix rockets higher.