Thread: Greece Votes NO

Not surprised either or particularly disappointed.
What Q says is what is being reported on the news and the actual proposal voted on had been withdrawn. I think the voters are not sure what they are actually voting on (the US has that problem too) and are just saying no one can tell us what to do. Cash shortages and bank closures are just the big EU bullies picking on us. Everything will be OK. If not we will express our displeasure.

The Greeks have always been kind of independent and contrary from my short exposure. They can take care of themselves but like monetary compensation for any perceived wrong against them.

Even their language is contrary. I took some amusement from a CNBC headline “Greece’s “nays” have it--“. The greek word for yes is ναι or Ναι and pronounced “nay or neh” by non-Greek speakers. Sounds a little like no in many languages. They headline made me wonder so I clicked on the story. An “OXI” poster was being held up by a person. That is όχι in lower case, pronounced oh-he by non-Greek speakers but should have a little k or ch sound before that h. Sounds a little like OK to English speakers.
Short “war story experience”: nothing like waiting for an answer where someone is either saying “nay, nay, neh” very impatiently or saying “ochee, ochee, ochee in the same or a more emphatic tone and not knowing what is expected of you.

The market will probably be down or go down Monday at first. Futures are down but VIX is up for S&P500. ??The VIX is for S&P500? Now I feel really stupid as I thought it was an overall market indicator like DJ. After that who knows? Da boyz and da botz?

Lot’s of replies since I started this and lot’s of good opinions.

Mine is that the EU was fought for hard as a part of the future on currency, one government direction and a world village. Those that want to keep it whole will probably not abandon those who have more needs than abilities.

Since I’m 60% in C fund right now there is no sense considering bailing out. Unless somehow the S&P500 goes up 3 or 4% before noon EST on Monday and stays there.

Everything will be ενταξι or “endaxi”.

PO

I'm on the sidelines, waiting for a good opportunity to jump back in.

We aren't there yet.

Wild ride ahead.

Originally Posted by userque

Emphasis added.

Interesting. It should also be the reaction, or not, of other potential lenders.

Consider: Is it good business for the juice man¹ to kill a delinquent customer? Does that help the juice man's bottom line? Does it cause other delinquent accounts to pay up? Or is it better to keep said customer alive with the hopes of one day, recovering funds?

¹'Juice man' is Chicago (Midwest? Nationwide?) slang for a (usually less sophisticated) lone shark. Nothing to do with the guy that made the juicer for your kitchen.

sometimes you got to break a few legs so they remember the juiceman still has teeth. welcome to the 2015 hunger games. grandmas pushed down in the street and trampled, it happens. game on.

Originally Posted by burrocrat

sometimes you got to break a few legs so they remember the juiceman still has teeth. welcome to the 2015 hunger games. grandmas pushed down in the street and trampled, it happens. game on.

Now you're thinking like a profitable juice man. Right. Break legs. No killing. Sends a message to others and the subject client. Pay up. Maybe Greece can stay, but at great 'costs.' We'll see.

By the way, I really haven't been following this stuff too closely; but correct me if I'm wrong:

Simply exiting/getting-kicked-out-of the EU and then printing your own money doesn't absolve you of previous debt...right? And surely, your Monopoly money wouldn't satisfy your creditors?

Originally Posted by userque

Now you're thinking like a profitable juice man. Right. Break legs. No killing. Sends a message to others and the subject client. Pay up. Maybe Greece can stay, but at great 'costs.' We'll see.

By the way, I really haven't been following this stuff too closely; but correct me if I'm wrong:

Simply exiting/getting-kicked-out-of the EU and then printing your own money doesn't absolve you of previous debt...right? And surely, your Monopoly money wouldn't satisfy your creditors?

there is no easy way out. they will get their blood. one way, or the other. or else they'll get it from your children. money never sleeps.

A good video explaining what is happening with Greece:

Will be interesting to see if the financial turmoil abroad boosts the U.S. stock market.
If Greece/Europe/China are 'down'...invest in the U.S.?

'China or Greece bigger concern' video raises some interesting points.
http://www.cnbc.com/id/102752199

Just remember one thing- the market hates uncertainty! Tomorrow is going to be ugly - bet on it!

'Buy when there's blood in the streets'.

SP500 is already at -.5% and rising and gold is down (was up almost 1%)
It's almost like the market already had this priced in... We'll see


Sent from my (Daughter forcing me to use an) iPhone using Tapatalk...

Right.

One of my main beliefs is that everything, except truly unexpected news, is priced in.

Another thing I find important to understand is how market makers/specialist operate. Although a topic usually reserved for day trading discussions, it does help one to understand seemingly inexplicable price actions.

What's the difference between a Nasdaq market maker and a NYSE specialist?
What's the difference between a Nasdaq market maker and a NYSE specialist?

For example,

You are a widgets dealer. Dealing a thousand widgets per day. By law, you have to buy/sell widgets from/to the public.

You believe the demand for widgets will skyrocket in a few days--triple your daily volume. You don't have the stock--what do you do? You must buy widgets.

If you buy outright, you'll drive up prices and increase your cost--and may not be able to sell at a profit. What to do?

You sell a little and show that you want to sell a bunch. You drive the price down and then buy a huge lot. Wash, rinse, repeat.

The game plan is different if the mm's/specialists have too much inventory prior to the demand. IMO, this is why markets sometimes go down with good news, and sometimes go up.

Smart money can also act as a mm/specialists while buying/selling volume.

The above is based upon my memory and understandings from years ago.