BREXIT

Stocks down, bonds up. Utilities up too. All in all the effect is quite weak.

http://stockcharts.com/h-sc/ui?s=spy

http://stockcharts.com/h-sc/ui?s=tlt

http://stockcharts.com/h-sc/ui?s=bnd

http://stockcharts.com/h-sc/ui?s=xlu

http://stockcharts.com/h-sc/ui?s=ed

Since my portfolio is diversified among those categories my totals are virtually unchanged.

The thing I found most effected is the UK ETF:

http://stockcharts.com/h-sc/ui?s=EWU

AND the British Pound ETF

http://stockcharts.com/h-sc/ui?s=fxb

A black swan? More like a gray Easter chick.

 
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The Telegraph:

http://www.telegraph.co.uk/news/2016/06/24/what-can-we-learn-from-the-eu-referendum-results/

London wanted to stay as did Scotland.
Scotland is pissed off. There has been a separatist movement afloat in Scotland with Scotland wanting to leave the UK. Scotland wants to leave the UK and stay in the EU.

:)

All is not well among the rest of the EU countries:

http://davidstockmanscontracorner.com/after-brexit-theres-grexit-spexit-uscitaly-and-portugal-too/

"signing up to the EU is signing up to the Fourth Reich"

Over the next few years we could well see the EU unravel completely. The major mourner would be Germany.
 
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No, the Brits had too many things to bitch about. Don't hold back a traveler. Hope they find their own happiness but their constant bickering pulled everyone else down.

clacy said:
This is just the first domino to fall. The EU has too many structural problems to survive long term. The design was flawed from the beginning.
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Nonsense. Huge difference here is that the British were net payers. The ones you mention are by majority net recipients. Nobody cuts themselves off free money. Not gonna happen. You will see.

Vertex said:
Already talk of referendums in Spain, France, Italy, Netherlands, Poland. The EU as a political body may be done. Could it go back to just a trade group?
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Why would Germany be the major mourner? You think Germany cannot do well on its own? If the UK can why would Germany not with a much stronger economic base?

oldnemesis said:
The Telegraph:

http://www.telegraph.co.uk/news/2016/06/24/what-can-we-learn-from-the-eu-referendum-results/

London wanted to stay as did Scotland.
Scotland is pissed off. There has been a separatist movement afloat in Scotland with Scotland wanting to leave the UK. Scotland wants to leave the UK and stay in the EU.

:)

All is not well among the rest of the EU countries:

http://davidstockmanscontracorner.com/after-brexit-theres-grexit-spexit-uscitaly-and-portugal-too/

"signing up to the EU is signing up to the Fourth Reich"

Over the next few years we could well see the EU unravel completely. The major mourner would be Germany.
More...
 
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marsman said:
My dream has become true! The Brits are gone! GONE FOR EVER! :D
The Brits have nothing to say in Europe anymore!
Some traders will profit very big...
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Yes some tarder win very big dollar in tradng in gbpusd, I see certain tarder that won on trades he will giving 50% profit for their friend and I hope these profit will be paid by broker but still not sure because these profit is around 1.3000.000$
 
conduit said:
Nonsense. Huge difference here is that the British were net payers. The ones you mention are by majority net recipients. Nobody cuts themselves off free money. Not gonna happen. You will see.
More...

Exactly. That's what so many are missing here. The UK pays billions every year to the EU and gets precious little in return.

All the angry liberals in the UK media are describing this as "votes from the elderly and uneducated that don't understand what they are doing". At least Cameron had the respect to step down and concede. Had this happened in the US, we would no doubt have seen violence and our President would have overridden the vote with an executive order.

Five years from now, the UK will be thriving and growing again.
 
I was not awake for it, but it would appear that ES futures were limit down for a time. I went to bed after it drifted into the 2020's and figured we'd probably see limit down. I know liquidity in the Treasuries dried up during that time, but the ES seemed fine earlier in the evening. There just wasn't much volume but options were going off for pretty fair prices and it was quite orderly given the magnitude of the move.

Anyone holding short puts throughout would likely have suffered immensely.
 
The Scots are not going along with the exit decision:

http://finance.yahoo.com/news/brita...revolt-over-result-eu-091147029--finance.html

Meanwhile Merkel is in the hot seat:

http://finance.yahoo.com/news/germa...-faces-brexit-fallout-105812799--finance.html

I personally see the exit vote as a failure of Merkel to satisfy working class Brits that being in the EU was to their advantage. She should have been more active and more friendly. The issue of the EU being dominated by Germany is not a small one. While most people in Britain that suffered from Nazi Germany are dead, the memory of WWII is almost genetic in the UK and is more severe in the working class. They are the ones who lost so much to the German attempt to rule Europe. Where would the UK be today if they had not lost an entire generation (economically and in lives) to the Nazi war machine.


This thing is not over and will play out over the next months and years.

For us we will need to see where the market goes this week and I will need to keep an eye on my spreads.

I may exit a couple at tomorrow's open... just to reduce risk.
 
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