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

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#1 Thu, Jun 23, 2011 - 3:01pm
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: silvernomics on Nov 8, 2014 - 5:06am
Thu, Jun 23, 2011 - 3:03pm
silvernomics
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5 year Greek austerity plan

5 year Greek austerity plan agreed? rumour

Great. I love outside-calendar news. Not.

Thu, Jun 23, 2011 - 3:08pm
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. 

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
Thu, Jun 23, 2011 - 3:10pm
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

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
Thu, Jun 23, 2011 - 3:14pm
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.

"it's game over man, game over!"
Thu, Jun 23, 2011 - 3:15pm
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.”
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
Thu, Jun 23, 2011 - 3:19pm
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.

"it's game over man, game over!"
Thu, Jun 23, 2011 - 3:21pm
Violent Rhetoric
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I still like the short side

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

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
Thu, Jun 23, 2011 - 3:26pm
agauinvest
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I'm losing my shorts!

I hope Parliament gives this plan the middle finger.

Thu, Jun 23, 2011 - 3:28pm
davefess
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still keeping my put option

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

"it's game over man, game over!"
Thu, Jun 23, 2011 - 3:39pm
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.

Thu, Jun 23, 2011 - 4:26pm
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...

Thu, Jun 23, 2011 - 4:31pm
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??

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

"it's game over man, game over!"