Futures Surge On Greek Bailout Report

Tyler Durden's picture

Following the previously reported news that Germany is sacrificing its political leadership, not to mention credibility, to bailout its banks, futures are currently ripping. As the chart below indicates, ES is surging right now, even as the broader risk basket is left far behind, since the markt realizes the "Brian Sack" pod at Citadel will be double taxpayers doubletime.

And since the entire stock market is now driven by the relative move in the EURUSD, with over 80,000 long EUR contracts recently eliminated in the net spec non-commercial position (as we presented previously) and as the net USD spec position moved from a net short to a net long for the first time since January, expect to see a pronounced knee jerk reaction as the FX specs proceed to get roundtripped for at least a few days. Which if nothing else buys the insolvent governments just that: a few days.

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Ray1968's picture

Gold/Silver to follow??

Muir's picture

Yeah, you shoulda bought the dip.

Ray1968's picture

I stopped out then bought the dip... then it crashed.

Don't ever look to me for advice on timing a top or bottom ;-|

Fish Gone Bad's picture

They were referring to Leo Kolivakis, not the Zodiac.

tmosley's picture

He was talking about himself (yet again), not the Zodiac.

wirtschaftswunder's picture

Fuck off! When the pesanut gallery is called for it will be evident.

Dolemite's picture

Fade this last gasp in stocks and Euro

Gold going up


Problem Is's picture

I took it as a comical double entendre...

As Leo's market views are somewhat cancerous to your wealth...

Michael Victory's picture

Monetize til destruction.

If you haven't heard it yet..

If you are a Turkey Phan..

Turkey talks Gold 8000 Silver 400.


CPL's picture

I like what they do, not how they do it.


..shit...those whack jobs at Stormfront are going to have fucking hayday with this shit.  Did germany internationally decide to elect National Socialists again or just have them claim the opportunity to throw a coup?


Man all this reads like a bad top five seller novel.

wirtschaftswunder's picture

Man all this reads like a bad top five seller novel.

...Or yet another tired Che is our hero let's give his memory a BJ even though he was a mass murderer. Reads like that?

PulauHantu29's picture

Oil soaring past $101 per barrle on its way to $160:


wirtschaftswunder's picture

It should be only a matter of minutes.

ruffian's picture

gold reaching tendline resistance at 1540-1545......daily stoch's topping and everythings alright now....greece is saved...no need to worry....gold's not necessary anymore......june is an important delivery month........smackdown coming !!

tmosley's picture

Ah, so your real name is Gold.  I see now.

jeff montanye's picture

definitely no need to worry.  ends of (seventy year) credit cycles are usually fairly easy to deal with, especially by an elite complicit in the greatest control fraud in history. 

Id fight Gandhi's picture

Yea! Everything is fine again. Buy cmg, Nflx, lulu and lnkd.

ebworthen's picture


Banksters busy selling out populace of the industrialized world.

Do you have your bottle of WWIII champagne in the fridge yet?


duo's picture

The Germans can hide their monetarism behind the Euro curtain.  Buy that Audi this year.

CPL's picture

Ummm...no...pretty cars, run like shit after a year off the lot.  I'll stick with my Silverado and Echo...gas and oil are the only things you stick in a car not effort.

Reese Bobby's picture

I'll believe it when money changes hands...

carbonmutant's picture

In reality this solution seems to involve a proposal to let other countries (Germany) get involved in collecting taxes from Greek citizens... since the process appears to be too complicated for the Greeks to collect their own taxes.

This is likely to produce something very different than the state run protests we've seen in Greece so far.



Id fight Gandhi's picture

Greeks are debt slaves and losing their homeland, time to buy the stocks.

throughthewire's picture

Euroemotion, won't last. Even the "smartest traders" are beginning to understand that phony economics has no staying power.

Yen Cross's picture

  Thanks for that chart!!!

steve from virginia's picture

Germany bails out its own banks, Greece winds up empty- handed as per usual.

No haircuts for now, but Greece will still default, maybe not next week.

Bizarre kind of musical chairs where standee is taken away and shot. Who gets 'bailed' next? Ireland?

What about Italy?

World economies engaged in endless rear- guard actions to postpone the inevitable, when all the chairs are taken away and all the standees array themselves in a circle and shoot each other.


Peak oil, bitchez!



agent default's picture

That would be a royal mess.  If Italy goes down, Unicredit may also need a bailout.  Italy can potentialy do double damage for its size.

??'s picture

what about Italy?


more to the point would be what about the chorus of pundits and doomsters that failed to predict this bailout?

bob_dabolina's picture

This move should be faded.

This is mere re-confirmation that the problem is unfixable. This move does nothing to help. 

Yen Cross's picture

NEVER fade the trade! Set (wide) stops! It takes 3 moves to set a short term trend change!

wirtschaftswunder's picture

SSSsssshhhh fool!!!! When everybody knows the gig is up!

mick_richfield's picture

what i tell you three times is true.

wirtschaftswunder's picture

Never trust a man that says "Trust me".

Yen Cross's picture

 What is your wonderland thought?

wirtschaftswunder's picture

That Wonderland Ave offers great views of the L.A. basin?

Yen Cross's picture

  As many people know. Oceana calls. You are A pleasure to exchange with.

wirtschaftswunder's picture

Let me guess. ......You're Polynesian and your wife has some fuckin insane body that won't quit for 45 years and you have 4 of them? :-)

Yen Cross's picture

 Thanks for taking the time. We all mistakes.

wirtschaftswunder's picture

You might be right. Took me 3 marriages to get the good one. Then again....

tmosley's picture

lol, no wonder you live in a van on the beach and smoke crack all day.  Also explains your bitterness.

disabledvet's picture

"trust me.  trust me.  trust me."

I feel much better now.  How 'bout you?

Problem Is's picture

"Never trust a man that says "Trust me".

I'm Bernard Madoff. Trust me!

Hephasteus's picture

He is one insane son of a bitch.

The Fonz's picture

I suppose at this point I am going to have to look a little bit foolish. I am wondering at the meaning of ES.  

Expected shortfall (ES) is a risk measure, a concept used in finance (and more specifically in the field of financial risk measurement) to evaluate the market risk or credit risk of a portfolio. It is an alternative to value at risk that is more sensitive to the shape of the loss distribution in the tail of the distribution. The "expected shortfall at q% level" is the expected return on the portfolio in the worstq% of the cases.

Expected shortfall is also called conditional value at risk (CVaR), average value at risk (AVaR), and expected tail loss (ETL).

ES evaluates the value (or risk) of an investment in a conservative way, focusing on the less profitable outcomes. For high values of q it ignores the most profitable but unlikely possibilities, for small values of q it focuses on the worst losses. On the other hand, unlike


If I understand this chart correctly then I am being told that a basket of somthing (equities in the other basket?) just got a lot more risky, or that its "tails" just got larger? Financial slang is a study of its own!


Thank you in advance for any help :)