I'm so sick of the same rhetoric, day after day. Racer we both know that Greece was just an excuse to rally the markets again; we knew Greece would capitulate...But Greece isn't the only headwind out there. On another note, today we have all the egomaniac activists out there parading at a CNBC sponsored conference, to tell everyone what companies should do. Does the madness ever stop? I think a US crash this summer will make the Chinese crash look like a walk in the park.
It's nothing more than a political move by Obama for his legacy.....We call this kicking the can down the road, very similar to the Greece deal.
And yet the media, CNBC and all their guests are making every effort to suck everyone in, thinking that the only headwind in the entire market was Greece. Greece was another excuse to attempt a new rally now that Greece caved in as we knew they would. Now it's time to resume the start of the correction.
Is it because traders don't trust the Chinese, and this deal may not go through?
They were down, but only about 30 points on the Dow, now 100, but it's early yet.
Racer they're like broken records. I realize they're paid to pump the markets, but they say the same thing over and over again. So not only are they paid by their firms to pump the market, CNBC pays them fees to be guests, to help their ratings. So yeah, next correction they should be off the air for awhile.
Thanks...It's a real headwind for my trading opportunities, the brokerage charts are not as good. Bobby do you know of another good free chart service?
All the CNBC talking heads think Germany will resolve the crisis, and the overbought, overvalued US stock markets will continue higher. I'm not in that camp. I think we can expect a real correction this summer, and Greece isn't our only problem by a long shot.
Another flash crash would not surprise me, maybe even next week.
of course they are. It's all about ratings. So who are they putting on the air, the perma bulls like Cramer, Jeremy Siegel and Tom Lee? Or will they have real guests this time, who tell the truth. What is the truth you ask? The truth is, the market's technicals were really weak BEFORE this no vote today, so we can look for an initial day of widespread selling on all the indices, followed by a full week of carnage. What CNBC should tell their listeners is that the S&P will probably retest the 1820 level within a month or two.
There's always that "spin" factor, you know, when Jeremy Siegel, Jim Cramer, and Tom Lee come on the air to tell us "we're going much higher,", and "the markets are overreacting", "buying opportunity", etc.
VXX is the much safer play, but they'll all do well tomorrow, and probably the rest of the week.
should have their head examined. The daily charts were already a technical mess before the vote, now it appears possible that the S&P will revisit 1820 again within a month or two. Understand that this is not just about Greece. If they somehow resolve the Greece situation or kick the can again within a week or so (doubtful), there's still a ton of headwinds facing the markets....and then there's earnings season in a couple of weeks. It looks like there will be great trading opportunities this month.
I was being kind. We haven't seen he futures lock limit down since 2009, or maybe 2001.