Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 14th of June.
No matter what happens this weekend, it will not be good in Greece. They could either have a complete election stalemate, or the Greeks could vote to reject austerity, which means disaster. Ask yourself this question: who in their right mind would vote to have something taken away from them?
In all my years in the market, I don't believe anyone has seen anything quite like this before. It is certainly different this time. What does any good politicians do during this particular financial Armageddon that's continuing to build? They kick the can down the road, of course. What the world needs more than anything, in my humble opinion, are some real leaders to step up to the plate and figure out what has to be done. Let's face it, the Euro zone was flawed before it began.
The only way to trade these markets is to go with the flow. Use the Trade Triangles and don't fight the markets.
DailyXchange
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TODAY'S MARKET MOVING SECTORS and STOCKS:
Percentage changes in stocks are relative to the S&P 500
| CONSUMER GOODS: +0.04% | Biggest Winner NAV +8.19% |
| SERVICES: -0.02% | Biggest Loser LUV -3.10% |
| HEALTHCARE: +0.23% | Biggest Winner LNCR +4.96% |
| ENERGY: -0.09% | Biggest Loser FET -2.78% |
| TECHNOLOGY: +0.27% | Biggest Winner NUAN +3.06% |
| FINANCIAL: -0.04% | Biggest Loser BX -2.28% |
| INDUSTRIAL GOODS: -0.28% | Biggest Loser TGI -3.76% |
| BASIC MATERIALS: -0.03% | Biggest Loser HL -2.68% |
| UTILITIES: -0.51% | Biggest Loser NKA -4.38% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here to view today's video
Maybe the solution for europe is for Germany to get out of the Euro and re - make the Deutchmark as their currency. All the weaker countries could devalue the Euro until they were competive with the world and start to grow their economies, and create Jobs.
Germany can keeps it's good fiscal planning and suffer less loss than throwing trillions of Euros down the drain trying to lend to countries that can't pay back
Complete and utter drivel William.
And as for you, Hewison - "anyone?" - bloody codswallop, you, just cast your mind back to recent UK history and its devaluations of Sterling - Callahan, Lamont, Soros might jog your memory.
The poor Greeks are victims of their own cupidity and their disingenuous governments, actually much the same as millions of Americans are victims of their "too big to fail", thieving banks and treacherous governments.
Being a man of the markets, as you say, you should know they're far from free, and while they were not perfect, Bretton Woods and Glass Steagall served their purpose.
Today's problems are Global and need Global Solutions. The only thing right about what you say is that among the miserable collection of parochial politicians everywhere, there's not one that stands out to lead the world out of this mess. Certainly they're not in America, which could and should lead, but which has become the most corrupt place on earth - and that's really tragic!
God Save the Queen and God Save America.
Well said!
From what I have heard, there are only 13 million people in Greece. The problem is they have enjoyed a free ride on the tab of the European Union. There are supposed to be more Lanberginni owners that there are people who pay taxes. If you pay taxes, you are considered stupid. All the politicians are have been elected because they promise more of the same.
My wife's nephew was in Athens last year with his family. There was a taxi strike and the only way he could get out of there was to pay a private citizen $50 to get to the airport.
From what I have heard, there are 1,000,000 registered unemployed plus 1,000,000 non registered
plus 2,500,000 children plus 2,500,000 retired people above 60 years plus 2,000,000 freelancers which declare what they want to the IRS -much less than they have as an income - plus 2,500,000 illegal immigrants from your "friendly" countries.
Therefore, all the burdens fall on taxpayers ( on employed citizens ) which are the remaining 2,500,000.
And they cannot hide not a single penny.
We can not take wild austerity measurements on a period of deep crisis. ΗΟW will we bring - the one for which there is much talk - the development to Europe?
Too bad we can't bring back Harry Truman to raise hell!