lol... we could still get there! just need another crazy headline out of europe to hit the wires as usual. 

 

Reuters says no greek PM resignation !
 

 

LOL, I better grab my puts before they change their minds!

now that would be interesting if they were the only ones to get the story right....

 

 

DAX up nearly 3% still, despite the currency taking a turn on them

so umm i'm gonna start calling cnbc and telling them about merkel's day and see if it affects the market. for example. Breaking news: Merkel just ate 3 twinkies. market up 3% based on news?

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.

 

 

Ofloaded my calls and into puts

Greece denying that the PM has resigned according to Dow Jones ....just announced on CNBC.

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.

 

Go figure...

the market is Cuhhh raaazy

 

ES weekly pivot is 1263. Daily R1 is 1243.25, looks like ES might possibly want to hold daily R1, so it is feasible it could want to test the weekly pivot. OTOH, SPY just closed a good daily gap with the opening high. Muddled.

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.

See the spike in TVIX 

ATHENS (Reuters)

 

"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.

put em up!!!! 

rut acting weak straight out the gate

 

but just bounced off its prior close