Remarkable stuff out of Greece. It looks like this entire week was a staged event in order to secure opposition backing for the new bailout (mission accomplished). People forget what political royalty the Papandreou family is in Greece. These types do not go quietly (still think he's gone by next Spring).
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Global Macro Trading Journal
- Thread starter Daal
- Start date
If he can stage what he did this week, he's not gone. It's absolutely masterful.Quote from ralph00:
Remarkable stuff out of Greece. It looks like this entire week was a staged event in order to secure opposition backing for the new bailout (mission accomplished). People forget what political royalty the Papandreou family is in Greece. These types do not go quietly (still think he's gone by next Spring).
Quote from ralph00:
Of course, they're going to default. It's enshrined in bailout from last week. That's not the question.
You're positing some sort of revolution-led disorderly withdrawal from the euro. While I would personally like to see the people rise up and smite euro-fascism (as I've often made clear), I don't think it's a reason to go massively short the euro after it has just plummeted 500 pips in 48 hours.
Be careful not to put words into my mouth - I didn't say Greece would be withdrawing from the euro, I didn't recommend shorting the euro. I simply said that Greece will not be the same as Ireland, because they will default (thus resisting EU austerity demands), and Ireland won't.
You are saying they will default but at the same time be at the beck and call of the EU leadership - but that doesn't really make sense, because default is effectively saying 'get lost' to the EU leadership and austerity plans. It's clear that the public will is to default on the debt but stay in the Euro, and thus I think that is most likely what will happen.
Your position is inconsistent - you are saying that Greece will kowtow to the EU, while at the same time stiffing them on debt payments and handing them a potential banking crisis. Either Greece is an obedient whipping boy and slashes spending, gets bailed out, and doesn't default; or it reaches breaking point, tells the EU leaders to get lost, and defaults.
If I understand this
http://www.zerohedge.com/news/bank-america-common-dilution-coming-issue-400-million-new-shares
BAC is saying 'our preferred stock and junior debt is so cheap we want to issue stock and debt to buy it'. But the stock price is abysmally low yet if they are issuing it they don't think its cheap
http://www.zerohedge.com/news/bank-america-common-dilution-coming-issue-400-million-new-shares
BAC is saying 'our preferred stock and junior debt is so cheap we want to issue stock and debt to buy it'. But the stock price is abysmally low yet if they are issuing it they don't think its cheap
Quote from Kassz007:
Anyone have an opinion on CAD right now?
I've been short EUR/CAD since the deal announced in Europe a few days ago - a position that is flat at the moment. The trade assumes CAD benefit from a risk-on type mentality, coupled with fundamental issues in Europe. Some decent USD news hasn't helped much, either. Perhaps it is best to wait out this Greek referendum business? Anyone care to pick this apart?
Loonie is massively correlated to risk on or off. It's a proxy for ES/EUR/AUD etc etc. Short EUR/CAD is betting that problems get contained to just the EU. I'd watch numbers from Asia and general macro #'s and anything related to commodity demand. Feel like I'm speaking to a mirror here, you guys already know this.
ralph, the point is if you had those winners, stop bragging about them. Yeah I could post my trade log showing I shorted ES and CAD/USD on fri, and I do mention some of my trade ideas here time to time. In fact I have posted about long gold since Feb, but I don't go "wow, look at me! I'm the hottest shit since fukushima". You alone in this thread specifically come in after a winner and convienently ignore your losers, which BTW I have 1 documented incident, but that's just breaking your balls.