lol... we could still get there! just need another crazy headline out of europe to hit the wires as usual.
All we need is another banker in charge...see how that works?....conspiracy nut.....
Papandreou will meet Greek President Karolos Papoulias immediately after an emergency cabinet meeting has finished.
He is expected to offer a coalition government, with former Greek central banker Lucas Papademos at the helm.
Reuters says no greek PM resignation !
ding ding ding!
At the open, banks gapping up around 1.3%, they are confirming this rally.. the EURUSD is not.
Correlation broken? Lets see how that pans out.
My anticipated resistance levels on the S&P 1250 and extreme level at 1262.
Dont be stupid, thats a +5% gap at the open, then a sharp sell off as China denies the news, then a V bottom to new highs with rally at the close.
Congratulations to all the Bulls. Papandreou has been ousted for not playing ball within the mandated guidelines of the ECB and Europe is now saved? The ECB, as expected for some time, has lowered their refinancing rates by 25 basis points, that should eliminate the debt? I don't know what to sing "Happy days are here again" or "What a difference a day makes"......24 little hours.?
The way this market has behaved since the end of July is way too flip--floppy for my likings. I alluded to a video in one of my initial posts where the author insinuated that the market was "broken" Well it certainly seems like it when you see 300+ point swings in AH based on rumors and headlines that are not even finalized. That being said, I think I'll just SOH and wait for the next entry point if there ever will be an honest one with all of this interference. You guys can take this elevator to the Penthouse, I'll wait patiently in the Lobby.
9:24 AM Contrary to an earlier published report, Bloomberg says Greek PM Papandreou will fight to remain on in office, and plans a speech for tonight. It's worth remembering that the Papandreou family is political royalty in Greece - think Kennedys, only more so. These types don't go quietly.
Rando, apple took out the 397.00 LOD, only had a .90c pullback so not worth the gamble but the play worked again of course. SPY has a 126.00 print in premarket, i held calls overnight but not adding more, just want to note this and see if it may play out.
Anyone like the LNKD short still?? I'm very temped but I don't know if its decline is to much to short into here... I think this could see $60 on bad earnings but I just don't know at this point. Market has me second guesing everything.
"The referendum is dead," Greek ruling party lawmaker Nikos Salayannis said on state radio.
The cabinet was due to hold an emergency session followed by a likely meeting of PASOK lawmakers amid speculation that they will call on him to resign.
However, his chief of staff Regina Vartzeli rejected the idea. "The prime minister has not resigned and does not intend to resign," she told the website of Proto Thema newspaper.