I have been watching the negotiations and as of Midday Saturday, the Greek PM stated that he needed 80 something billion more to prop up the banks and keep things going. He had his officials agree for the most part on a new package and the EU is looking at it and grimacing.
With this relatively new left government in Greece, can they trust them? There are several party members in Germany and Finland that just want Greece out of the Union, but the majority of the EU officials do not.
Still 259 billion is a lot to stomach. How will Greece pay that back? Its like telling little Tommy at the lemonade stand that he owes $498,568.00 by next October. Is that realistic? Is Greece being set up to fail? These and more questions are circulating around the negotiations.
Just the fact that some of the EU officials are getting a bit salty about the package might in itself be a negotiation in order to extract more from Greece in the form of concessions and further money. One point of contention was some officials wanting greece to put aside 50 billion for future payments that it couldn't touch.
My opinion? The EU is throwing good money after bad. You have to know when to walk away from a bad bet without throwing more money at it so that the debtor can "just get to the track to make some money so I can pay you". However, I think there is an agenda behind this: The NWO wants all nations united. Having one of those nations cut out and stand alone again might set a bad precedent. Things are getting rough for Spain and Portugal. Maybe they see Greece walk and not pay, and maybe they do that too. Not good, not in line with the plan.
This is the reason that I feel that a deal is going to be approved Monday with some dissenters on both sides of the table. The market is going to jump up, with GREK.
Now how long will it jump up is the question. Could be up all day. Or just up in the morning as investors sober up from the good news in the morning and take a hard look at it in the afternoon. Will Greece be able to stick to the plan? Will they need to be bailed out again? So if you are looking to exit any positions for a gain, if the deal does go down (I think it will) the time to do your exit is in the first 2 hours of trading, then things get a little out of focus for the rest of the day.
As for Tues-Fri it really depends on if a deal was struck. Once a deal is struck or not struck, within 2 days of that event/non event I will be able to read the technicals again and let you know with an 80% certainty which way the market will go on a day by day basis.
Tradinginsider
0 comments:
Post a Comment