This page has been archived and commenting is disabled.
EURUSD Dips Below 1.28 As All Hell Breaks Loose In Italian Financials
Much to the chagrin of the US Department of Mass Disinformation, the market has completely ignored the ridiculous ADP data, and has focused squarely on what is happening in Milan where the serial halting of bank trading has resumed. Following the 4th unhalt of UniCredit, its stock is now down 15% on the day as it scrambles to catch up to the fair value represented yesterday courtesy of the rights offering to be about 43% below the market price. As a result while the robotic decoupling in the US continues, as somehow America is supposed to be able to import and export from and to itself and completely ignore that it has about $3 trillion in European bank exposure, the EURUSD has just dipped to below 1.28 for the first time in over a year. Lastly, not helping things is the already noted implosion of refiner Petroplus which just announced that access to all of its credit lines has been suspended, sending the stock down 20%. Looks like it will be a long, cold winter for Europe even as the US decouples to a Dow 36,000 mushroom cloud.
UniCredit - 4 halts and counting:
And EURUSD below 1.28:
»
- 15924 reads
- Printer-friendly version
- Send to friend
- advertisements -
Short this shit with full force while some powder dry!
I really don't want to drag this out for decades. Let's crash the EU and the US along with it. This massive economic recovery has already devastated my ass. I don't see giving these bastards any extra time for "their own" contingency plans at my fucking expense. Off with their heads! LOL.
HA HA I'm wondering who will fiddle as rome burns this time around?
So thing didn't magically get fixed? But it is new Year. All those problems are behind us now. What is money between friends?
Ouch I sense a little anger and frustration in this post due to the fact the US markets keep taking a beating and keep going higher.
It is looking ugly over there.
http://confoundedinterest.wordpress.com/2012/01/05/eurozone-worsens-exce...
MDB you rock! Truly your post are some of the funniest shit on ZH. I think some of the guys/gals that don’t read as much don’t get your humor. I must admit I did not at first but after reading several of your post its too funny. Taking the position as the Kool aid drinking shill is hilarious, this shit should go to Max Kiser or Jon S or hell may be even Red Eye with the voice of the NY Times. You SIR are a comic genius
We seem to be back to the "market that couldn't go down" in the new year. All the illiquid crap I watch is being bid at no price reduction with SPX off 10+.
Bob Pisani is giddily shitting his pants on CNBC with the continuing US disconnect.
Even with the carnage in the EU banking sector our banks seem to be doing fine. Check out BofA, its all most like they were solvent or something. As an anecdote, I withdrew a sizable amount of cash from BofA yesterday with no problems.
It seems like the TPTB are going to at least keep the wheels on through the elections through the use of falsified data, monetary pumping and propaganda. I look back and miss the old market where you could do some research pick a good company and make a living. With all this manipulation and distortion I just can't commit any cash and sitting on my ass burning principle is getting old.
But more christian louboutins store and more discount christian louboutin shoes sale challenges ahead cheap louboutins but often at waiting for christian louboutin boots me to challenge, will face in people, in the christian louboutin discount face of the thing. which one are not simple to deal cheap christian louboutin pumps with, but I have to face, and still have to deal with. http://www.cheaplouboutinsssssstores.com/
Draw water christian louboutin pumps smoke, the pen sales louboutins with ink stones, paint with all three louboutins sales thousand dreams. Clear anxious on fu, in the night, and between looking back, thin christian louboutin ankle boots film of window edge, do not see the old appearance. Ink christian louboutin boots really lock, drunk sleepless, two lines were crying. http://www.salescheaplouboutins.com/
I endure injustice, wanted moncler outlet to mean to say I just graduated comrade, competent moncler jackets 2011 soon, but with my efforts women moncler jackets have get an electrician moncler jackets for men title, I also go to a number moncler women vests of units in practice, the motor, circuit men moncler vest board, fitter, welder contact with many http://www.cheapmonclerssjackets.com/