Wednesday, January 13, 2010


Been very busy working on possibly a massive deal. Heading out of state tonight. Why I haven't been able to post much lately. The sanity of the market should be called into question so not make sure it makes sense looking at it anyway. Today Greece CDS surged by the most ever setting a new record as Greece slowly moves toward collapse. The markets worlwide were down and the U.S. market looked like it was getting ready to break until a MASSIVE order came into the futures market. Shot the markets skyward and momentum gained the rest of the day. Volume on the ES S&P 500 future contracts was strong all day today.

Tomorrow is some retail data which could disapoint because so many of the Decemeber auto sales were fleet sales versus to individuals. Estimates may be to high. Next week and the week following starts the housing data which may be the first noticeable data the housing market is not okay.

Either way, still looking for a short term pullback at least. Whether it is more than that I don't know. I consider 1150 pretty important so if it can get jammed above that we may be waiting longer.

When the deal either occurs or doesn't occur I will let you know about it. It is one of the crazier things I have come across.


Aggie Capitalist said...

Who cares about Greece?

What are the implications of a Greece failure?

The economy of Texas is 4x the size of Greece's.

floatingrate said...

I think it is more the pressure that a Greek flameout would put on the Euro (and the EU) that makes it worth watching. Yes it isn't the mightiest economy in the world, but when sovereign risk around the world starts to rise, well, weird things can start to happen. Would the EU bail out greece? Can the EU bail out Greece?

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