CL Redux
- Thread starter schizo
- Start date
JUNE 14 th OPEC Metting
JUNE 17 th, Greece Elections
Get ready for big Crude roller coaster this whole week between 83.50 and 88.50
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<b>Greek Election Poses the Next Major Threat
Country's Decision on Whether to Remain in Euro Zone Could have Huge Impact on U.S. Economy and Presidential Vote </b>
http://online.wsj.com/article/SB10001424052702303444204577458782405172236.html?mod=googlenews_wsj
<b>GREECE IS SUCH A SMALL ECONOMY. WHY DOES ITS MEMBERSHIP OF THE EURO MATTER? </b>
http://www.businessweek.com/ap/2012-06/D9VABT1G0.htm
True, Greece's economy makes up about 2 percent of the eurozone's overall economic output. But if Greece falls out of the eurozone, investors will become nervous about whether other financially shaky countries, such as Italy or Spain, could also someday leave. That fear would likely drive up borrowing costs for these and other countries, potentially to levels that would require them to seek an international bailout. Europe would then be trapped in a vicious circle.
The European banks that hold much of the continent's government bonds would then become significantly weaker and more reluctant to lend to one another. This could spark off a credit crunch like the one that followed the collapse of the U.S. investment bank Lehman Brothers.
This problem could be made even worse by savers and investors taking money out of banks in shaky economies and moving it out to safer countries such as Germany or even out of the eurozone altogether. This could further destabilize the banking system.
JUNE 17 th, Greece Elections
Get ready for big Crude roller coaster this whole week between 83.50 and 88.50
---------------
<b>Greek Election Poses the Next Major Threat
Country's Decision on Whether to Remain in Euro Zone Could have Huge Impact on U.S. Economy and Presidential Vote </b>
http://online.wsj.com/article/SB10001424052702303444204577458782405172236.html?mod=googlenews_wsj
<b>GREECE IS SUCH A SMALL ECONOMY. WHY DOES ITS MEMBERSHIP OF THE EURO MATTER? </b>
http://www.businessweek.com/ap/2012-06/D9VABT1G0.htm
True, Greece's economy makes up about 2 percent of the eurozone's overall economic output. But if Greece falls out of the eurozone, investors will become nervous about whether other financially shaky countries, such as Italy or Spain, could also someday leave. That fear would likely drive up borrowing costs for these and other countries, potentially to levels that would require them to seek an international bailout. Europe would then be trapped in a vicious circle.
The European banks that hold much of the continent's government bonds would then become significantly weaker and more reluctant to lend to one another. This could spark off a credit crunch like the one that followed the collapse of the U.S. investment bank Lehman Brothers.
This problem could be made even worse by savers and investors taking money out of banks in shaky economies and moving it out to safer countries such as Germany or even out of the eurozone altogether. This could further destabilize the banking system.
agree 100%
Obvious down trend here in RTH.
Anticipating a possible bottom at 84,15-20, unless a trend reversal occur before that.
Anticipating a possible bottom at 84,15-20, unless a trend reversal occur before that.
out 8455
new Longs 8455
new Longs 8455
add 8425
Not yet longs.
Unless we snap up from the PDH now, we can trade substantially lower before finding a bottom for the day.
ES is gunning for the gap below as well.
Unless we snap up from the PDH now, we can trade substantially lower before finding a bottom for the day.
ES is gunning for the gap below as well.
ES gap fill complete and a 140 cent down swing. Maybe. 