Remarkable stuff out of Greece. It looks like this entire week was a staged event in order to secure opposition backing for the new bailout (mission accomplished). People forget what political royalty the Papandreou family is in Greece. These types do not go quietly (still think he's gone by next Spring).
IIRC my final recovery was something like 80-90c on the dollar(not counting opportunity cost and time waste). With zero fraud or misuse of funds
Be careful not to put words into my mouth - I didn't say Greece would be withdrawing from the euro, I didn't recommend shorting the euro. I simply said that Greece will not be the same as Ireland, because they will default (thus resisting EU austerity demands), and Ireland won't. You are saying they will default but at the same time be at the beck and call of the EU leadership - but that doesn't really make sense, because default is effectively saying 'get lost' to the EU leadership and austerity plans. It's clear that the public will is to default on the debt but stay in the Euro, and thus I think that is most likely what will happen. Your position is inconsistent - you are saying that Greece will kowtow to the EU, while at the same time stiffing them on debt payments and handing them a potential banking crisis. Either Greece is an obedient whipping boy and slashes spending, gets bailed out, and doesn't default; or it reaches breaking point, tells the EU leaders to get lost, and defaults.
Not sure what you're talking about. Last week's bailout agreement calls for a 50% haircut on Greek debt - that's a default, agreed to by Europe (but not yet by the Greeks!). Just added to AUD short at $104.15
If I understand this http://www.zerohedge.com/news/bank-america-common-dilution-coming-issue-400-million-new-shares BAC is saying 'our preferred stock and junior debt is so cheap we want to issue stock and debt to buy it'. But the stock price is abysmally low yet if they are issuing it they don't think its cheap
Loonie is massively correlated to risk on or off. It's a proxy for ES/EUR/AUD etc etc. Short EUR/CAD is betting that problems get contained to just the EU. I'd watch numbers from Asia and general macro #'s and anything related to commodity demand. Feel like I'm speaking to a mirror here, you guys already know this.
ralph, the point is if you had those winners, stop bragging about them. Yeah I could post my trade log showing I shorted ES and CAD/USD on fri, and I do mention some of my trade ideas here time to time. In fact I have posted about long gold since Feb, but I don't go "wow, look at me! I'm the hottest shit since fukushima". You alone in this thread specifically come in after a winner and convienently ignore your losers, which BTW I have 1 documented incident, but that's just breaking your balls.
Ghost of Cutten, can you possibly name a few brokers which offer such an arrangement for US stocks? Thanks.