Update: AP Wire and CNBC saying Reuters rumors untrue. WOWWWWW!! Talk about billions of dollars being thrown around based on a false Reuters report. Like I said, no one has any idea what is going on. This is a pin ball machine. Doesn't make sense to trade. Better to watch.
Market was about to give up the ghost in what looked like a very very ugly reversal when Reuters reported (or was statistically leaked) that the German Government is "in principle" is ready to help Greece. What that means I have no idea. Other tidbits trickling out is that no concrete decision has been made or what kind of measures will be taken. Portugal President Dos Santos is claiming he is not aware of such a plan.
Basically no one knows what is going on. The market looked it was about to break down in a very ugly way. The Euro was turning over. Citigroup was plummeting after S&P put them on negative watch. This press release is a game changer for the day.
What happens after I have no idea. Times like these I step away. I have no idea what is going on and neither does anyone else. So that means people are moving around based on emotion. Better to see how this settles out.