Posted on 07/06/2015 3:15:17 AM PDT by LukeL
Dow Futures are already down 125, Oil down 4.4%, Platinum down over $20.
Dow +100 at the closing bell.
China’s market up 2.5 %, was up 8% on new China “fixes.”
The only Greek commodity I want is gyros.
Futures on the three US equity markets down less than 1% each.
Yawn.
Oil is down $2.54, that is about a 5% drop.
They actually climbed 50 points to only be down 125 now. Logic says they should go down but it’s a toss up as to whether they end up or down by anywhere from 20 - 300 points. Real Bizzaro world these days.
Feta?
But that’s a good development.
Severe Weather Alert = 15 minute thunderstorm.
More Hyperbole.
It’s not as bloody as I thought it might be....
Logic says a lot of things that aren't happening
Obviously the Greek exit is seen as deflationary. Stock markets and oil and gold/silver deflate. By proxy the USD increases in value relative to everything else. Behold the Obama/Fderale Reserve SUPER DOLLAR!
Large speculators, who can get vast amounts of money for nothing thanks to central banks, will continue to speculate on whatever they think will happen today, or in the next fraction of a minute....
Longer term trend followers will nervously seek the next emerging segment rotations. And those more concerned with return of capital than return on capital will look for a place of safety to escape systemic risk and exposure to unknown or unreliable counter parties.
I am in the latter group.
Well, it looks like everyone is expecting the EU and the ECB to blink and keep Greece in the EU.
Personally, I would love for the EU to go tits up, even if I lose some money.
Buy the dip
I believe the PPT (Plunge Protection Team) will be in its full glory today.
What is supposed to be down will be up and what is supposed to be up will be up. The PPT will ensure that.
All of us who were involved with investments in the stock market back in the late 1990’s and early 2000’s remember the PPT very well. No matter how bad the market was during the day it ALWAYS zoomed up within the last 30 minutes of trading.
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