GREECE and the Euro

[volpunter]

Lol, hitting the Greek economy especially hard? All those migrants passing by Greece on their way to Germany must be a true hardship to Greeks. Ever repeating Greek drama. If they could just draw a line and exit Europe and kiss up to Russia and China then everyone would be helped. What else is a hardship to Greeks? Next week we will hear how they apply for subsidies because Greek men cannot get it up anymore or what?

http://www.stuff.co.nz/world/europe...nnot-cope-with-refugees-after-visiting-Lesbos

http://www.usnews.com/news/world/ar...s-in-life-and-death-struggle-on-greece-island

http://www.reuters.com/article/2015...ece-idUSKCN0SS1CD20151103#5XYr3ttGOBpDOiCm.97

Unfortunately the migrant crises in Europe is hitting Greece especially hard, making Greek recovery ever less likely.

With all of this going on Greece still is being pressed on its response to the bailout issues:

http://www.nytimes.com/2015/11/06/business/greece-debt-bailout.html

I swear to God I would get up and go there if I didn't think I would be just another mouth to feed.

 

[oldnemesis]

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

Back in July we instituted a 13/16 bear call spread which is about to expire in the money. The GREK has declined so far that there is no money in rolling it over. The June '16 13/16 bear call spread yields exactly nothing. A June 8/11 would get me $65. But I think I'll just let the GREK trade go.

Since we spent a lot of time on the Greece problem the problem has been multiplexed into the European immigrant crises:

http://www.cnn.com/2015/12/07/europe/greece-macedonia-border-soup-kitchen-dreams/index.html

http://www.reuters.com/article/us-europe-migrants-greece-idUSKBN0TS0MX20151209#FfPJMYGKsXUGAb3P.97

Which I have no stomach for betting on.

"there but for the grace of god goes all of us"