#1
The market continues to wait on the news of the next Greek bailout. Each day that something might happen, the market grinds higher. When that something falls flat, the market goes flat again. After an early slide this morning, the market received the headlines below from Bloomberg and resumed its pathetic, no volume, and zero volatility churn higher.

There was a final deadline LAST Friday; then another final-final deadline Sunday evening; then another on Monday; then (today) Wednesday there was the final-final-final deadline; and now there is another: Thursday is the latest now-we-mean-it-for-realz deadline, before the latest ridiculous summit where Eurocrats will convene to steal more national sovereignty on behalf of the banking mafia.

Will this newest deadline be met? Would it matter if they didnt meet it?

TROIKA DRAFT GREEK ACCORD SAYS 2012 GDP TO SHRINK AS MUCH AS 5%
GREECE TO CUT MEDICINE SPENDING TO 1.5% OF GDP FROM 1.9% OF GDP
GREECE PLEDGES TO MERGE ALL AUXILIARY PENSION FUNDS
GREECE TO PLEDGE 20% CUT IN MINIMUM WAGE IN TROIKA DRAFT
TROIKA DRAFT GREEK ACCORD RENEWS PLEDGE TO CUT 150,000 EMPLOYEE
TROIKA DRAFT GREEK ACCORD PLEDGES 15,000 STATE JOB CUTS IN 2012
GREECE TO PLEDGE ACCELERATED LABOR, PRODUCT MARKETS REFORMS
GREECE PLEDGES PERMANENT SPENDING CUTS IN TROIKA DRAFT REPORT
GREECE PLEDGES NOT TO INCREASE SALES-TAX IN DRAFT REPORT

But no worries folks the genius Eurocrats of the Troika exclaimed that Greece will actually believes Greece will return to growth in 2013. Yup, in less than 11 months Greece will be on its way to stellar GDP growth. Give me a break.

Trade well and follow the trend, not the so-called experts.
_____________
Larry Levin
Founder & President TradingAdvantageTM
 
#2
Larry,

Thanks for the post.

Well, I could (and for this matter any sensible market guy should) sense out that there is something more at stake than what is being shown to public by the leaders / EU. As they say... avalanche spares nobody and this is "economic avalanche" and EU is no exception.

Regards,

Vishal
 

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