Sure looks like Greece will follow Puerto Rico to default land. Only question now is will it happen in August or September. Europe Creditors fed up with things, IMF won't play ball *loan more money" and now Greek stock falling faster then a heavy Greek javelin.
Gee aren't things going wonderful in Greece as stock free fall down, the IMF says "No Bailout Euros From Us" and Germany says, "You give us half your country and we might lend you a warm German Beer". Is this any way to do business with a country that is broke and doesn't want to work it way out of things???
so let's see where U.S. market is when it opens in a few hours. Down 100 points or 200 points???? Never a good time to go long Spy with the worlds largest economy in a Free Fall. And we all know things are far worse in China then numbers shows - since the Red Dragon always prints FAKE NUMBERS. Year, after year, after year.
Greek traders said on Sunday they expected a torrid day of losses when the Greek stock market in Athens opens after being shuttered for five weeks as part of attempts to stop Greece‘s financial collapse. A combination of pent-up trading, worries about the future and Greece’s worsening economy could knock 20 per cent or more off the Athens General Index .ATG on Monday, they said. Trading of Greek assets in the United States over the period the bourse has been closed suggests the same.
“The possibility of seeing even a single share rise in tomorrow’s session is almost zero,” said Takis Zamanis, chief trader at Beta Securities.
After months of staggering under its $72 billion debt load, the island is expected to miss a bond payment due Saturday, which—despite what some government officials have claimed—means the island is probably heading for default. (We won't know for sure whether it happens until Monday, according to Reuters, since the cash isn't due until the next business day). Think of this as a scary warmup for a much bigger confrontation over Puerto Rico's debt that's still to come. As Bloomberg puts it, this is basically Puerto Rico's "nasty warning shot to investors that officials aren’t afraid to default." The island says it simply doesn't have the cash flow to cover its obligations (which may well be true), and is working on a debt-restructuring plan it should have done by Sept. 1. But by skipping this weekend's payment, it's signaling to creditors that they should really consider making a deal or risk getting stiffed. Creditors getting stiffed - heck Germany's been getting stiffed for years over the Greece fiasco and now Puerto Rico wants to "STIFF" Uncle Sam. Market correction starts NEXT WEEK.
basically no one buy in pre-hours due to the fact that Tesla stock has way more room to fall yet very limited upside potential. There are better places to make a dime, but staying here and hoping Tesla climbs back to $280 ain't going to happen. In fact I think we hit $200 before we see $270 again, so place your bets very carefully.
Tesla Motors is all hype and CEO Elon Musk was right to say the electric car maker's stock is "kind of high right now," former General Motors Chairman Bob Lutz told CNBC. "Elon Musk is right. It's grossly overvalued right now," Lutz said. "When you look at it, their total production to date is still less than one day's production of General Motors or Ford, so it's filled with a lot of hype." Sure looks scary going long Tesla at $260 here.
and if Iran gets to flood world markets with more oil, look out. No one will pay Tesla's outlandish for "toy" cars when they can buy a buy a real car that drives forever on Cheap Gas.
and I suggest Tesla longs cover themselves with multiple plastic sheets since its going to get really, really smelly.
Tesla panic selling will kick in shortly as investors realize the stock is way, way over bought and set for a 50% correction - if not more. Tesla is a hyped company and we all know what happens to "hyped" companies when they miss earning projections and offer weak guidance. Oil headed to $40 a barrel and below which means Tesla days are numbered as orders slip and shipment order decline. TIMBER
and as Senior Members of the Syriza party plan there return to the drachma, Spy longs get worried knowing that a Greek government split will force Greece into Default, thus send Spy down to $100 a share, if not lower.
What was kiss and make up two weeks ago is now all out Political war between Greece Syriza members and Europe creditors. Look out below.
and when news breaks how bad it is, the stock will free fall into double digits.
At the Defcon hacker conference in August, two renowned security professionals, CloudFlare’s research lead Marc Rogers and Lookout co-founder Kevin Mahaffey, will reveal major vulnerabilities in the Tesla Model S. Its a hackers paradise (Model S) one cyber security expert said and Tesla is doing nothing about it. Next week sure looks ugly for Tesla and Tesla stock.
Gold hits five-year low under $1,100 on Chinese selling (TIMBER)
Gold prices plunged as much as 4 percent to their lowest in more than five years on Monday as sellers in top consumer China offloaded the metal. Investors have been finding less and less reason to hold gold as an insurance against risk, with the dollar strengthening ahead of what is expected to be the first increase in U.S. interest rates for nearly a decade.
and continues into Fed rate hike come September and the free fall should end sometime in 2018, 2019 when the Fed finally stops tightening. So long $1000 an ounce and hello $850 come back to school September.
The reason Varoufakis resigned was because he needed free time to find and buy money printing presses for new Drachma bills. Word has it (with the help of Russia) that he found several but now he can find any ink to print new Greek currency. So sad
Greece's New German Overlords "Irritated" By Tsipras "I Don't Support What I'm Doing" Comment. How can anything pass the Greece Parliament when the idiot running it wants to throw up every time he tries to pass legislations that will kill Greece for years. Its mass suicide on a gigantic level.
and certainly not a cocktail you would want to drink on a bull bloated Bull stomach.
Greek prime minister Alexis Tsipras is losing his struggle to keep his majority in parliament after a number of government figures distanced themselves from the deal with creditors. A rebellion in the ruling Syriza party has been on the cards since Saturday morning, when 17 of the party’s MPs failed to vote to authorise Mr Tsipras to negotiate with Greece’s lenders. Another 15 indicated over the weekend they would not vote for individual austerity measures. As the scale of the tough terms accepted by Mr Tsipras emerged this morning, senior party figures were predicting the prime minister would struggle to hold his government together.
With no majority in Greek Parliament - Nothing gets passes as banks go stone cold broke.
Nothing will pass Greek parliament on Wednesday or this week since there will be no clear cut majority to rule on the final days of Greece.
Labour Minister Panos Skourletis said on Monday the measures of the forthcoming deal plan are not viable," he said. "They will not pass parliament and further there would be a snap election this year". Watch world markets sell off going into Wednesday know Greece will approve NOTHING.