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Greece survives for another day

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SimonPB
Valued Contributor
an the rally is on, for at least a couple of hours ?? Maybe a few days ??
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29 REPLIES 29
DEP
Super Contributor
Yeah, deja vu all over again.
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striker
Super Contributor
- Hmm - elections not that convincing. In effect, 30% of Greeks voted to stay in the Euro , submit to the austerity measures and honour their debt obligations. It's still touch and go.
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kwagga
Super Contributor
My best guess is that this rally will fizzle quite quickly – a day or two most. Omo
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Rams
Super Contributor
The Greeks will default , after the US elections?
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DEP
Super Contributor
Hmmmm... interesting thought! Has Obama Admin. have such power over Europe? Its a plan...
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Mboss
Contributor
Does this now mean no QE3?
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richardw
Super Contributor
QE3 is almost definitely on, only question is when. I'm not sure it's the smartest thing to do because they'll need bullets should the EU really tank.
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DEP
Super Contributor
Forget QE3 for now... Later in the year at best!
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Not applicable
Dudes and dudettes. The market basically shrugged off all the negativity pertaining to Europe. That negativity still persists - Greece is irrelevant in the bigger scheme of things, considering that Spain and Italy are 10 times the exposure levels - each!. So the US and China chugging along, China slowing but still positive, the US - well who knows what really goes on in their minds and markets. So all it will take for another rally is a single piece of positive news out of Europe, like some sort of accord or a bond yield below a certain level - and this rally will be big. Only problem is that it will keep ticking up unconvinsingly until the big push - which you won't be able to trade because it will be too late. Ride the wave and stop panicking about the future
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richardw
Super Contributor
I think it's done exactly what we said it would. The election was small upside, big downside. So a bit of a bounce, but bonds for Spain & Italy have jumped today. The issue isn't whether the world will end but whether there'll be opportunities to buy at lower prices, and/or to short in the meantime. If it were just buy and forget, we wouldn't be on the forum.
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richardw
Super Contributor
Sorry - read that as "bond *yields* have jumped.
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Mboss
Contributor
Good call. So the world is "ending" but nobody cares?
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SimonPB
Valued Contributor
ya, check VIX .. totally untroubled ..
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richardw
Super Contributor
My top-down view is that there are continuing issues and I'm certainly not going all-in either way. My bottom-up view is to buy where there are opportunities right now.
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Rams
Super Contributor
Greece should be kicked out, let the catastrophe happen....but will not happen in US election year....2013 will be like Friday 13....I have PRICES, and I will be waiting to add to my long term investments...will not take me more than 5 minutes to accumulate...
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DEP
Super Contributor
If you so strongly believe about financial disaster in 2013 why buy (you said: long term)?
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striker
Super Contributor
- and apparently ,many of those that did vote to keep the status quo and stay in the EU , did so holding their noses. Moving the deck chairs on the Titanic anyone ?
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SimonPB
Valued Contributor
Pasok is also pro EU/EZ pushing that number close to 50% .. the bigger issue, the pro nazi party got like double digit support and will have seats in the parliment ..
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richardw
Super Contributor
Exactly right. Short term it's not a problem. Citi still thinks 50-75% Grexit within 12-18 months. I wish Germany would just buy Greece and pave it, or something.
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