It's really amazing to think about these multi-national corps who will likely have to revamp their entire management structures surrounding their EU divisions as a result of this vote...production facilities and distribution channels may all need to be reconsidered depending on how this all plays out. Forget about the accountants and tax reporting divisions, that will take months if not years to fully sort out. When we think of the potential disruptions that this may create for one single multinational company, its understandable that the S&P is down 4.5% tonight.
First Minister Nicola Sturgeon has said the Scottish people have spoken decisively, for Remain. Given her position, I'd expect another Referendum there once the mechanism of joining the EU has been agreed, so that is more downside to the Pound. Leave is coming close to a million vote lead, with 334/382 declared. There are going to be many trading opportunities in the days ahead, and we can use ACD rather than any knee jerk reaction.
I bought 100 shares of UVXY after the close for 9.60 as a little Brexit play...hoping market opens up in the AM with vix very high
I'm thinking longer term than that. The opportunities are going to be plenty. The actual exit is a two year process with terms to be negotiated. As it plays out, well and poorly in turn, £ and € will respond.
Some Macro play's for the future to medium term / long term , by the way things will also be interesting in France and far right group la Penn. let the games begin
Some of this is a serious over-reaction in the face of scare mongering. Among the silly claims we hear is that this a disaster for anti-terrorism efforts in the U.K. because of loss of cooperation with Europe. This is just politicians with an inflated sense of their importance. Intelligence agencies around the world cooperate without even telling politicians. Just one example of the nonsense people are reacting to.
Sturgeon has just announced that Scotland sees its future as part of the EU. No rush folks, there will be trades aplenty.
How do you all think tomorrow will play out? Panic selling in stocks after we open or if we might ease up. I'm just pumped about uvxy lol, hoping vol stays up!