I'm sure the parties involved have a priority to best serve what is good for Greece moving forward and minimizes as much as possible the losses that various creditors have long term. I'm also sure they couldn't care less the impact good or bad on US equity markets. In the 1970s ( I believe it was that decade ), most of South America defaulted on most of their loans. Canadian banks took a big hit. My point is life goes on, those South American countries started on a fresh basis and those who loaned them the money took the hit. If it was advantageous for Greece to default, I'm sure it would happen. I would suggest to you that international debt is a complicated topic and unless you are involved directly, your knee jerk reactions to the news don't achieve anything.
While I agree with you, I know the answer why they are delaying the deal. If they agree on the first or the second day, many people in Greece will think that their leaders were traitors and Germans will think their leader were so easy to give away their tax money to Greece. So they delay it till the last minute. They sit in a room and watch movies and tell jokes and in the last minute when Greeks are sweating and are worried that they will be kicked out of Eurozone and feel the reality, they announce the deal so everyone celebrates and claim victory.
You are welcome. Yes we are smart. I did not want to be pain in the ass but you asked for it as you mentioned only senior guys should comment on this thread. Just check your day of joining with mine. You called my 200 point drop as stupid and put 17865 stop loss as wise. Well you were stopped out and I won. Trend will be down and I don't care if the market is up 50 points tomorrow. I look at 3 months chart and it tells me something different.
There is a delay for the time bulls accept that bull market is over and also there is a same delay when bears accept that down trend is over. I am afraid that to say that your prediction is delayed. There will be too hard to make money as long term bull in the near future unless you are planning at least a 2 year hold period. Market I directionless and has a taste of going down