Black Monday

bond_trad3r_II said:
Could it be? Could this be it?

(if we close at or near the lows, otherwise please disregard)
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We're still in a bull market. Black Monday didn't just come out of the blue. The swing lows on weekly/daily were first taken out before the carnage began. Yes it was an extreme move but the line of least resistance was down BEFORE Black Monday arrived.

Gringo
 
Slainte said:
Referendum? They just had an election and got the government they want. Only this government isn't delivering anything and the EU is really fed up with them.

When there is a Grexit I think the markets will react fierce at first, but soon one will realize that in the end it is not such a big deal.
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The current government is elected by Greek people based on their promise that they will re-negotiate the debt with ECB & IMF. If the new government fail to get anywhere with the debt negotiation (mainly from German), the only way for the new government to get out from this situation is to hold a referendum to see if the Greek people will prefer to:
a) Stay in Euro and pay the debt OR
b) Declare bankrupt and leave Euro

The hilarious part (based on some survey recently) is the majority of the Greek people will go for option (a) with "any cost" even they elected the current government recently.

The grexit debate will disappear in a few month time until next year because of...
 
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