What just happened? Euro went up 35 pips in 10 seconds

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silvernomics
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What just happened? Euro went up 35 pips in 10 seconds

Caused a mini spike in silver and gold too

What gave?

Edited by admin on 11/08/2014 - 05:06
silvernomics
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5 year Greek austerity plan

5 year Greek austerity plan agreed? rumour

Great. I love outside-calendar news. Not.

Violent Rhetoric
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SPX spiked from about 1268 to

SPX spiked from about 1268 to 1278 between 13:55 to 13.57 CT then gave about half back. 

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”
~ Robert Heinlein

Violent Rhetoric
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They will wait until the ETFs

They will wait until the ETFs close to announce a plan which will hose me. I was planning to exit tomorrow and avoid the weekend announcement. Now... hmmm

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”
~ Robert Heinlein

davefess
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doubt it will pass parliment

The market is being overly optimistic about this. I don't think the Greek Parliament will pass this on Tuesday. If it does, then yes there will be a huge rally, but quite a bit of talk out of Greece that there isn't the same level of support at the confidence vote that barely passed.

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Violent Rhetoric
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From Bloomberg:     By

From Bloomberg:

By Michael P. Regan
     June 23 (Bloomberg) -- U.S. stocks pared losses following a
report that Greece had reached an agreement with the European
Union and International Monetary Fund regarding a five-year
austerity plan.
     The Standard & Poor’s 500 Index slipped 0.9 percent to
1,275.08 at 3:06 p.m. in New York after tumbling as much as 1.9
percent earlier. The Dow Jones Indutrial Average fell 131.35
points, or 1.1 percent, to 11,978.32. Reuters reported that the
Greek government had reached the agreement with the IMF and EU,
citing sources.     
     “So yes the market is rallying on only a headline and not
a full story,” said Peter Boockvar, equity strategist at Miller
Tabak & Co. in New York, in a note to clients. “There is
already an austerity plan that the Greek parliament is voting on
next week so the only thing that could be different is if the
terms have been changed to make it easier for the Greek
government to pass. Again, it’s just a headline that doesn’t
fully make sense since a plan is already being voted on next
week.”

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”
~ Robert Heinlein

davefess
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mo' money, mo' problems

They just love the free fiat being thrown around. Makes me sick. Going to go run for an hour now and then come back see the market green.

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Violent Rhetoric
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I still like the short side

I still like the short side for now. Have a good run.

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Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”
~ Robert Heinlein

agauinvest
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I'm losing my shorts!

I hope Parliament gives this plan the middle finger.

davefess
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still keeping my put option

I am out. too frustrating to watch anymore. Thanks!

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agauinvest
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Puts

Turned too fast to change stops and limits.

I've still got my paired up long gold short equity positions; but that got hit worse than anything else I have.  Almost back to where I bought them.

Kiwi
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Like a kidney stone....

....the bailout plan is going to be tough/impossible to pass. I just read that they need 180 votes to pass it.... Gpap could only get his own party to pass the confidence vote, and some of his own party won't vote for the austerity.... so expect the turmoil to last all summer...

davefess
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another reason it may not

just plucked this off the comments from ZH, police are now joining the protests. so who is going to protect the politicians??

http://www.keeptalkinggreece.com/2011/06/23/police-officers-to-join-indignant-greeks-in-front-of-the-parliament/

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