Greece / Portugal Troubles Continue

[tsptalk]

This is getting bad, but it should be no surprise, yet the market is selling off on it (not the Goldman hearing).

S&P Downgrades Greece to Junk Status

"Standard & Poor's Ratings Agency said Tuesday it cut Greece's ratings to junk status, saying the country's policy options are narrowing as it tries to cut its large budget deficit.

"Earlier Tuesday, S&P slapped Portugal with a two-notch ratings downgrade, saying it expects the nation's government to struggle to stabilize its relatively high debt ratio until 2013."

 

[hessian]

This is getting bad, but it should be no surprise, yet the market is selling off on it (not the Goldman hearing).

S&P Downgrades Greece to Junk Status

"Standard & Poor's Ratings Agency said Tuesday it cut Greece's ratings to junk status, saying the country's policy options are narrowing as it tries to cut its large budget deficit.

"Earlier Tuesday, S&P slapped Portugal with a two-notch ratings downgrade, saying it expects the nation's government to struggle to stabilize its relatively high debt ratio until 2013."

Interseting,
I'd have thought it the Goldman Hearings.
So, question - given this is EU issue, what might we expect - a longer pullback, going forward? -days/weeks/longer?? :worried:
VR

 

[fedgolfer]

This is getting bad, but it should be no surprise, yet the market is selling off on it (not the Goldman hearing).

S&P Downgrades Greece to Junk Status

"Standard & Poor's Ratings Agency said Tuesday it cut Greece's ratings to junk status, saying the country's policy options are narrowing as it tries to cut its large budget deficit.

"Earlier Tuesday, S&P slapped Portugal with a two-notch ratings downgrade, saying it expects the nation's government to struggle to stabilize its relatively high debt ratio until 2013."

With EFA now falling below the support line on the WEEKLY candles going back the March '09 rebound, this opens a technical arguement and possiblity for a double dipper in the Eurozone. Will it be that bad, I don't think so... more likely a flush out so the big money/stable pockets can accumulate after the Greek scare.

 

[Boghie]

Hessian,
So interesting you had to say it three times - yuk, yuk

Who cares about Goldman Sachs. Will a bloviating Levin kill them and the banking sector. The morons can hurt them, but that will be a buying opportunity!!!

But, the PIGS
That is something
Illinois, Kalefornea next
Soverign debt, no place to be.

 

[tsptalk]

S&P went below the 20-day EMA, but who knows where it will close. Momentum is tough to slow down. I'd love to see the 50-day get hit this week.

The market seems to react to this news, but quickly dismisses it.

 

[fedgolfer]

The market seems to react to this news, but quickly dismisses it.

the dip buying has been pretty strong, but this time there are some pretty gigantic technical turns, here's one:

http://stockcharts.com/h-sc/ui?s=$VIX&p=D&b=5&g=0&id=p78824043549

+20% vix spikes and the april 27 omen... if it's a fake out, I bit.

 

[James48843]

Tom-

Take a look at the ARMS index. It hit 1.69, and is now flying the other direction.

 

[tsptalk]

Interseting,
I'd have thought it the Goldman Hearings.

Goldman Sachs' stock is actually up today.

 

[Silverbird]

I think it's Greece/Portugal jitters, plus...

FOMC - will they or won't they raise interest rates? Tune in tommorow.

http://www.cnbc.com/id/36800873

 

[tsptalk]

Tom-

Take a look at the ARMS index. It hit 1.69, and is now flying the other direction.

Wow, the daily TRIN hit 4.5 today, but is currently 2.4. I see the 10 DMA just about hitting 1.50 (closer to 1.48).

A couple more days of selling should line up the 50-day EMA on the S&P, the 1.50+ 10-DMA reading on the ARMS, and a bulls/ bears sentiment of less than 1 to 1.

Of course the best signal for all of you will be when I buy. It will mean the bull market is over.

 

[James48843]

Wow, the daily TRIN hit 4.5 today, but is currently 2.4. I see the 10 DMA just about hitting 1.50 (closer to 1.48).

A couple more days of selling should line up the 50-day EMA on the S&P, the 1.50+ 10-DMA reading on the ARMS, and a bulls/ bears sentiment of less than 1 to 1.

Of course the best signal for all of you will be when I buy. It will mean the bull market is over.

Yeh I know what you mean. In my office, my coworkers ask me if I'm in or out. They know if they do the opposite of me, they're good.

Of course- I jumped in two days ago. :-(

 

[FAB1]

Hey Tom - Greece the Word better Bite now while you can, jump on in the waters fine!

 

[tsptalk]

Hey Tom - Greece the Word better Bite now while you can, jump on in the waters fine!

That's a lot of metaphors... You lost me.

 

[Show-me]

14% on two year Greek bonds.

 

[Bullitt]

14% on two year Greek bonds.

Aww, come on Show-Me. You're ruining it for the true believers. Don't you know that China is the growth engine for the entire galaxy? It's different this time because China will consume every commodity on the planet, hence more production, which will cause a nice little bit of inflation, and hey, a great buying opportunity. (Meanwhile, the pension funds are bailing out via the escape hatches).

:laugh:

 

[tsptalk]

Greece puts its islands up for sale to save economy...

Want to pool our money and buy one? TSP Talk Island? I like it!

 

[crws]

Let's build a bridge to one of them as an infrastructure investment project funded by a bond sale, dividends to be paid by tolls!

Greece puts its islands up for sale to save economy...

Want to pool our money and buy one? TSP Talk Island? I like it!