How Are You Positioned for Tomorrow's Greek News (June-21-2011)?

I am positioned long the euro ... I feel that any news supportive of a future return of Greece to the Drachma will have a firming effect on the Euro.

 

VIX has been dropping for 3 days from high 24 to less than 18 today. the market "knows" with very high confidence that Greeks won't default today. I am guessing that people with money have estimated the votes in the Parliament quite well.

 

Interesting perspective. On the other hand, what if default effects travel to the other euro countries?

It looks like the future of europe is in Russia, Turkey, Poland and Germany. The future of the other ones (including France) do not seem so bright.

Britain must be happy for herself not to have joined the european club party.

Midnight (athens), 5PM (ET) seems to be a very well chosen time to vote.

 

forex spreads are nasty better know what the f*$k you are doing if you trade this.

 

Russia appears to be quite messed up to have any meaningful future. I am curious what made you think it has a good one?

 

5:12 no news .... geez how long does it take to get a bailout these days?

 

is this why today was a big up day?

 

According to a blog, it is at 5:35PM.

 

that's my understanding unless there was some other Greece related news from EU that indicated some hope.

it is quite possible that today (soon) is THE NEWs but its impact has been approximated before it has come out (e.g. SPY closing price ~correct price post-news)

i expect VIX drop further tomorrow with some modest SPY upside (unless SHTF and VIX >35, SPY -5-10%)

 

one thing that worries me is that if the Greeks are indeed such lazy bastards as many here claim they are then they may be tempted to default.

in that case i will be getting up my arse on my VXX puts, but should survive because i have not bet the farm.