Dow tanking
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LOL. You should be in cash right now... We should have bought at -800 or so, we'd be rich... Somebody is trying to shore it up... It's coming back slightly and is in the -400s now, but the trading isn't nearly as heavy as it would be with a true rebound. I don't think they'll be successful. I think it's likely we'll end today in the 10,250 range, but then I've never been psychic and I'm just guessing.
charver
You lookin' at my pint?
Two words...bank exposure.
(saying it like that makes it sort of sound like i know what i'm talking about doesn't it)
Funds available for short term lending are vital to the markets.
Sammy Jankis
Was it me?
we will see if the illuminati willing to kill over it. How this turns out will dictate eveything going forward.
Topspin
Verified User
The greek average worker killed 3 of thier coworkers in riots yestarday, I say the illuminati should strike back.
True, the markets are built on "trust", if people do not feel comfortable investing the "fear" can drive the markets down huge. But a dip to below 10,000? Somebody's messing with things...
Cancel 2016.2
The Almighty
For the same reason Lehman Brothers sparked a panic. It is not the impact of Greece going under that concerns people. It is the spillover effect they are worried about. If Greece falls, which is looking ever more likely, it is then likely that Portugal, Spain, Ireland and Italy follow. The Euro would implode, probably to near 1/1 parity with the dollar.
the EU can handle Greece tanking, even Ireland, Italy and Portugal. (though all four would be tough). It cannot handle Spain going down. It essentially would be the equivalent of Goldman and JPM going down in the middle of the financial crisis here in late 08.
Topspin
Verified User
I don't see a Euro implode but the all mighty Euro days over the dollar maybe ending. Now Americans will be able to afford to go to Europe in larger numbers. The old crappy dollar trade was overplayed to the hilt.
Cripes; that sounds bad. It just seems weird that a relatively small country could have that kind of effect, but I understand the reasoning.
charver
You lookin' at my pint?
Sell high Tops. You don't make money unless you sell high, then repurchase at the discount. It's like saying you "saved" money using a coupon for fish legs. It saved money on the purchase of fish legs, yeah, but you shouldn't have spent money on such a foolish thing to begin with...
Sammy Jankis
Was it me?
I hope you all got your sheds full of beans.
Cancel 2016.2
The Almighty
Ironically, it is the Greek morons rioting in the streets and 'vowing to keep fighting the austerity measures' that is creating the sense of panic.
The idiots seem to think their country will be better off without the bailout package the EU and IMF offered them. Because the ONLY way they get that bailout is if they live up to the austerity measures that are part of the package.
Note to US... you cannot keep increasing debt at an insane pace and then expect nothing bad to happen in the future when you actually have to PAY for everything you have promised.
Note to CA... look to Greece... that is you in about 6 months. (barring a federal bailout of the state)