***Official*** 2015 Stock Market Thread

[Svnla]

Ouch. Today is bad, wonder if the next few days/weeks will be worse? (Gritting teeth and bully ahead, damn the torpedoes)

 

[Imp]

Flight to safety (i.e. pumping USD) is helping me out -- on paper only since the price of everything I would use that money on will go up.

 

[NikolaeVarius]

How low will it go... Need to get ready to start buying EVERYTHING.

 

[JTsyo]

So is the panic with Greece over or will the July 5th bring new panic?

 

[JEDI]

So is the panic with Greece over or will the July 5th bring new panic?

as Greece is nearing defaulting on their loans, they have the balls to ask for ANOTHER loan!
http://money.cnn.com/2015/06/30/news/economy/greece-imf-default/index.html

lol.. what smucks

 

[s0me0nesmind1]

They are saying the issues with Greece will delay Fed rate hikes into 2016.

 

[Imp]

Canada's GDP fell for the fourth straight month in April. Lulz, a family member just bought a house, apparently, at the likely top of the housing market.

So, market's worldwide back to normal.

Anyway, about the definition of "defaulting", are we waiting until 12:00 am local time or something?

 

[s0me0nesmind1]

Greece defaults on IMF payment despite last-minute overtures to creditors
http://finance.yahoo.com/news/anti-austerity-protests-greece-bank-054624449.html

Shit just got real, yo.

Hoping for another huge dive tomorrow. Bring on the bear baby.

 

[FelixDeCat]

Greece defaults on IMF payment despite last-minute overtures to creditors
http://finance.yahoo.com/news/anti-austerity-protests-greece-bank-054624449.html

Shit just got real, yo.

Hoping for another huge dive tomorrow. Bring on the bear baby.

I had thought we would fall further. The world seems to think we might be at a short term bottom. I bought biotechs.

Might be another leg down if doubts persist but in the end its good that we finally settle this Greek mess. Up next is Puerto Rico, Spain, Portugal, Italy and Ireland, all of which have massive debt loads and overburdened social programs.

 

[Charmonium]

I had thought we would fall further. The world seems to think we might be at a short term bottom. I bought biotechs.

Might be another leg down if doubts persist but in the end its good that we finally settle this Greek mess. Up next is Puerto Rico, Spain, Portugal, Italy and Ireland, all of which have massive debt loads and overburdened social programs.

I thought the other piigs had gotten their act together, especially Ireland. From what I read, no one seems concerned about any contagion effect but I guess it's possible that each one, Portugal especially, could have some issues and need more bail outs.

BTW, fun fact, the EU rules actually make bailouts illegal. But they've essentially ignored that prohibition - I guess to prevent the EU from falling apart completely.

 

[Hugo Drax]

I sold short puts and calls yesterday and today. Busy two days. Short strangles and straddles. I closed out a bunch of short call positions that I initiated a while back as well.

 

[Imp]

Markets not giving a shit -- not counting China since their bubble is popping.

So, this is just the IMF default, they have another Euro deadline thing coming up in about 3 weeks. Maybe the two handed middle-finger salute will cause more panic.

 

[Hugo Drax]

US might bail out greece out of concerns regarding Goldman Sachs liquidity risk to our economy. markets up on rumors

 

[FelixDeCat]

I thought the other piigs had gotten their act together, especially Ireland. From what I read, no one seems concerned about any contagion effect but I guess it's possible that each one, Portugal especially, could have some issues and need more bail outs.

BTW, fun fact, the EU rules actually make bailouts illegal. But they've essentially ignored that prohibition - I guess to prevent the EU from falling apart completely.

Anything is possible.

I sold short puts and calls yesterday and today. Busy two days. Short strangles and straddles. I closed out a bunch of short call positions that I initiated a while back as well.

Time to cover, dude. :whiste:

Markets not giving a shit.

Hmmm....world markets rallying 2% on possible last second deal (probably wont happen but shorts dont have the luxury of waiting, so expect a nice pop here today).

 

[s0me0nesmind1]

Markets not giving a shit -- not counting China since their bubble is popping.

So, this is just the IMF default, they have another Euro deadline thing coming up in about 3 weeks. Maybe the two handed middle-finger salute will cause more panic.

Interesting. Maybe markets are up because they assume with all the crisis going on it will push back Fed raising rates until 2016?

 

[Charmonium]

US might bail out greece out of concerns regarding Goldman Sachs liquidity risk to our economy. markets up on rumors

How would that work? The fed extends a loan to Greek banks? That's hard to imagine. It would be pretty funny though.

 

[dr150]

How would that work? The fed extends a loan to Greek banks? That's hard to imagine. It would be pretty funny though.

As if the US doesn't have financial problems of it's own (massive debt/GDP ratio).

Politically it wouldn't be doable unless the world's financial markets go DEFCON 5.....b/c of deadbeat Greece (1.8% of EU GDP)......extremely unlikely.

.....If this were to happen in a bizarro world, the EU experiment would likely be over as the financial markets would lose confidence in the stability of the Euro and punish the currency in ways you haven't seen. Needing papa USA to solve Europe's problem would send a strong signal of how useless the EU is and would wreck the bond markets of Spain, Portugal, Italy, Ireland. Then you'd very likely have contagion.

The likely scenario is that Greece votes YES on Sunday, especially after living first-hand 6 full days of bank sanctions (i.e. no cash to buy goods/services, letters of credit/trade wrecked). Greeks are seeing how it is to live "without" Europe.

Apparently, rumors are that if Greece were to vote NO, the screws would tighten further with the Greek financial system until the Greeks finally come around........i.e. Grounding the kid for a longer time period is better than going ballistic and kicking him out of the house to teach him life lessons.

 

[Charmonium]

From what I'm hearing today, it seems that the Greek banks are already insolvent. So I think that bank holiday is going to extend to a few weeks at least rather than the 1 week we're looking at now. They can't get any more money from the IMF since they've already defaulted and it looks like things will go the same way for the ECB when Greece can't pay back that loan on the 20th.

Plus now, you have Tsipras going on television to tell the Greeks that they should vote 'no.' This guy has to be all kinds of stoned. what does he think is going to happen.

I could understand if there were any real danger of contagion that the fed might try to help out the ECB but not without the ECB doing something first and that just isn't going to happen.

I agree though that unless the Greek populace is as stoned as Tsipras that they will vote yes. That will mean the end of Syriza. The problem with that though is that even with a yes vote, it's going to take weeks to get a new agreement and a new government.

 

[Udgnim]

there wasn't a sell off before today's close for once

 

[Imp]

there wasn't a sell off before today's close for once

Might be a holiday week with July 4 coming up this weekend.

Otherwise, uh ohs! West Texas is down cause supplies rose. It didn't seem to have an issue with global supplies increasing steadily over the past few months?

 

[Michael]

China government certainly is worried about their stock market. Generally, such overt action as they are taking backfires.

Michael

 

[ponyo]

http://www.reuters.com/article/2015/07/05/us-china-markets-brokerage-pledge-idUSKCN0PE08E20150705

I read this and shook my head. It's strange time we're living in where pretty much all governments are openly trying to prop up the market. I just think all this is going to end badly. Eventually mistakes will be made and even governments will run out of bullets.

 

[Imp]

So "oil" (WTI) went down about 6% over the past week according to one ticker I saw. Looks like that worrying about producers turning on the taps on already drilled/capped wells when prices stabilized may be happening.

 

[debian0001]

Hey guys, is there a 401K like fund that I can get into with extra money but easily get out of it if I needed the money? I like liquidity. How bad is the taxes on that?

Is there any special consideration with ETFs?

 

[Imp]

Ummmmmmmmmmmmmmmm.... Did Greece just give Europe the finger? Sounds like results are still being waited for.

The Greek government's official projection is that 61 per cent of voters chose No

http://www.theglobeandmail.com/news...as-voters-turn-out-in-droves/article25306916/