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Even Goldman Is Sick Of The Recurring Greek Deja Vu All Over Again Stupidity, Says Sell Euro
Goldman is now short euro... And sick of the endless dejavuness out of Greece.
Overnight we duely got the tech break and printed a fesh low of 1.3201 . The move seemed to be stop loss driven rather than on the back of fresh negative news . With hindsight it would appear that the market piled into shorts on the back of the technical break. A short market, much better IFO and news that Greece is to activate EU aid mechanism led to a very sharp rally to 1.3347. In parallel euribor sold off, Greek cds and spreads improved notably. But this still strikes me as a repeat of the type of news flow and price action which has been a defining feature of this whole episode. I don’t think this solves the sustainability issue and I think we will see the euro come under pressure again. The market has again cleaned out the weaker shorts and I think we will now struggle to sustain bounces.
As todays price action verifies it is very difficult to hold a short through these gyrations but I think that has to be the aim. I would suggest holding a core short and looking to add should we again approach 1.3340/50 with a stop at 1.3420.
Ideally we would see a close back under 1.3265 today but in any event I am hopeful that we will be heading for new lows next week.
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Good for eurozone exporters.
in the meantime, SEC employees paid on tax dollars are watching porn
http://www.cnbc.com/id/36733087
Why not? They have been jerking the public off. Everyone is entitled to it right?
Maybe euroland will make it a human right, like vacations.
The SEC suit has scared Goldman into a rare moment of honesty (aka quadruple-reverse squid psychology).
in other words - wait for the EUR to take out all the new stops at 1.3420 , then short it at 1.3450 or so. Right?
These stops are great for Squidster - like taking money from children.
Of course if the stock market starts to slide - EUR will be pushed up and will keep getting pushed up until stocks turn around. Like clockwork. Perhaps the PPT operates by buying FX to provide Dollar liquidity to push up stocks?
It's almost as if these "Greece worries" are being turned on and off by the corporate financial media like a light switch.
You know, a suspicious mind might think the "Greece worries" are providing cover for market insiders as they reap enormous profits from these bizarre price fluctuations.
So what you're saying is, "false flag?"
I'm not sure how "false flag" would apply here. I prefer old-fashioned words like "swindle", or "scam".
A suspicious mind might also think that this is nothing more then a dog and pony show being used to distract us from the 12.8 Trillion pound gorilla in the room.
The US and UK are in far worse shape. The only reason they seem to be in better shape is that they can print money and devalue, Greece doesn't have that option.
franken stein
a big 10-4 dog and pony make believe monsteir
The Belgium government just fell today. You know, capital of Europe, Brussels....
Portugal, Greece, Italy... It's over for Europe, Germany just needs to pull the plug.
Long euro signal, then? GS has been a fade so far
Could Goldman be right this time?
greek porn
Jim Sinclair’s Commentary
When you consider the funds Greece requires compared to what was funnelled into US financial entities, it is a joke.
Greece is a sideshow being treated like a main event in order to keep attention off the problems of the US and GB.
There is a limit in time to which a lie can carry the day
Speaking of Sinclair, check out gold. It's acting like it doesn't have any "Greece worries" today.
as if gold ever had any greek worries .. another made up propaganda flushing sound . more shit in the toilet .so what
as real gold is being satisfied at 25% over spot, by those with no gold yet plenty of made up paper
yep Greece a barking dog. and all the keyboard yammer from the "analysts" trying to find a non story ,, and holler because some-one else hollerd .. "i ran because i saw others run" shakespeare
CNBS had some meathead on this am that was all about getting long the euro in a huge way. LOL. Must be capitulation.