Game over for Greece and possibly Europe.
All it takes is one Creditor to walk away and the whole deck of cards comes tumbling DOWN.
It looked pretty much like Greece had a deal with its European partners and the International Monetary Fund, but that's now been thrown into doubt with a massive decision from the IMF board. The Financial Times' Peter Spiegel got his hands on documents from the institution showing that they won't sign off on the deal since there's no explicit agreement to deal with Greece's debt.
Sentiment means a lot in the bullion market, where only about 60 percent of what gets mined or recycled each year is used in jewelry and industrial applications. The rest is sold as coins or bars, so when demand from investors dries up, there can be painful consequences for the bulls who remain. Prices will drop to $914 an ounce before January, according to the average estimate in a Bloomberg News survey of 16 analysts and traders. That would be the lowest since 2009 and a 10 percent retreat from Tuesday’s settlement. Speculators are shorting the metal for the first time since U.S. government data began in 2006, and holders of exchange-traded products are selling at the fastest pace in two years.
“Gold is out of fashion like flared trousers: no one wants it,” said Robin Bhar, an analyst at Societe Generale SA in London. “It’s not going to collapse, but we think it is going to be at a lower level in the not-too-distant future.”
I'm afraid Tesla could run out of money before you ever see a Tesla battery that will take you 500 miles. Musk is way, way over leveraged and going broke building his battery side business. But the bigger worry is the bigger fish in the pond now and those big fish will first take major market share away from Tesla and its overprice EV and then go in for the kill and put Tesla out of business. Just wait for upcoming company report to find out how bad things really are - sales wise and revenue wise.
No wonder Tesla stock is Tanking. Increasing competition is a country where Tesla has fallen flat on its face.
Production will supposedly begin in late 2016, with deliveries in early 2017, putting it ahead of the Tesla Model 3 in terms of launch date. After a government subsidy, the vehicle will cost about $32,000 to $48,000, putting its pricing in line with the Model 3.
Wow - First Toyota comes out with a dazzling new electric car to take market share from faltering Tesla and now G.E. going to take away battery business away from Tesla. Talk about a double punch to the gut. $243 tomorrow and possibly $200 by Friday. When she starts to fall she will fall fast and hard, so sell now if your low Tesla or risk losing everything.
and as we all know the Germans hate being called SUCKERS.
sure looks like gold rockets higher as word leaks Fed won't tighten until later this year as Greece tells Europe Creditors 'TO STICK IT". Gold loves volatility and little Greece is bringing in back in Spades.
Not me - lower revenue coming along with steep stock sell off. Tesla is a "hyped" company with a "hyped" stock and as we all know fades can fade out very quickly and be yesterday's news. Oil will remain low long term now which means the "death to electric cars and their sky high prices".
But three senior officials from Greece's bailout monitors said Athens had instead demanded restrictions on negotiators, including on whom creditors could meet and what topics were to be discussed in the talks. Two of the officials said Greek authorities had also insisted negotiators no longer use the Athens Hilton as their base — a hotel close to central Syntagma Square and a short drive to the finance ministry — instead proposing hotels far from the capital's government quarter. "It is fundamentally more of the same," said a senior official from one of the bailout monitors,colloquially known as the "troika" after the three institutions originally involved in the talks, the European Commission, European Central Bank and International Monetary Fund. "They don't want to engage with the troika."
and we all know Gold falls through the floor as we get closer to Yellen slap down.
I'm long Tvix and proud of it. Sure its a risky bet but hey "Sept." is just around the corner and Yellen point blank said "In Sept. I raise rates". Give markets a day or two but more Fed members will come out warning or a rate hike in September that will #$%$ the market. Now the only question is will there be a 20% correction in August or early September? Might actually see both if Greece, China meltdown continues in front of a Fed rate hike.
simply because the Fed is now less then two months away from hiking rates, and world markets don't know how to deal with it.
Look for another (big) gold dump tomorrow as investors run away from this yellow metal as fast as they can. Fed hike now less then two months away - which means $900 an ounce by early September.
can't go wrong with either one but you have to buy now to enjoy the triple move higher as we get closer to a Sept. Fed Rate hike. Gold has no where to go now except DOWN.
I'm tempted but going long Jdst since I think gold will sell off (big time) going into Sept. and Fed rate hike. I don't think we will see much of a pull back tomorrow as the gold trend short term and long term is down. Jdst could easily hit $30 this month and who know how high if in fact the Fed does start the long lost rate hike(s) in two months or less. Time to hold this puppy for the long ride up.
Wake me up when that happens. Tvix could hit $6 soon with Greece vote all but certain to pass. Question now is - Does Yellen get cold feet and hold off rate hike until December. She sure is a chicken #$%$.
but stock market still in denial since its no longer knows or remembers what a rate hike is? Watch the market get slapped silly when word spreads Rate Hikes coming for rest of 2015, 2016 and 2017. Even if they are baby rate hikes, they still will put pressure on stocks.