I'm watching NBG as a way to "play" Greece on the downside. Are you watching any other Greek stocks, particularly those with a USA listing?
Greece CDS chart available at the following ZH page: http://www.zerohedge.com/article/greece-cds-hits-fresh-record-funding-crisis-now-official Greece CDS Hits Fresh Record; Funding Crisis Now Official "The economic situation in Greece is getting worse by the day. Despite PM Papandreou's promises to the contrary, it is probably safe to say that the country is now in a full blown funding crisis; this is reflected in the country's fresh new record in its default risk as seen by credit traders. At 346 bps, it is just a matter of time before all hedges cover positions and this number explodes. Now it is the Eurozone's turn to promise it will not expel Greece from the monetary union: we think the likelihood of this action is increasing proportional to the number of times this possibility is refuted."
Today Portugal is the latest PIG / STUPID country to experience a few problems. Here is a link to a page listing non-US bank stocks: http://seekingalpha.com/article/183137-the-complete-list-of-foreign-bank-stocks
Just noting that despite *relatively* unchanged EUR and GBP and S&P 500 futures from 4pm on Friday, some non-US bank stocks are lower. Noticeable action: NBG down again LLOY broke below 18 Dec 2009 level of 47.89 RBS down as well NY Times article about LLOY selling "Integrated Finance" unit: http://dealbook.blogs.nytimes.com/2...d-to-circle-lloyds-unit/?partner=yahoofinance NASDAQ:BBVA NYSE:AIB NYSE:IRE NYSE:BCS NYSE:ING
Some Greece articles (no doubt there are plenty more out there): The Run On Greece Is Here: Investors Pull Out â¬10 Billion From The Troubled Country; Crisis Escalation Approaches http://www.zerohedge.com/article/ru...llion-troubled-country-crisis-escalation-here Super-wealthy investors move billions out of Greece http://www.guardian.co.uk/world/2010/feb/07/greek-rich-pull-out-billions-debt Deutsche Bank And Unicredit Pull Out Of Greek Repo Market, Cease Lending Against Greek Collateral http://www.zerohedge.com/article/de...-market-cease-lending-against-greek-collatera I agree with Zero Hedge's analysis, is that this is quickly becoming a self-fulfilling downward spiral, just like AIG / Lehman in Sept 2008. If nothing else, it's fun watching NYSE:NBG trade each day.