Holy shit, thanks a lot Greece
- Thread starter papajohn56
- Start date
fuck. i deposited money for this specific reason into etrade and i fell asleep during the crash. Look at where apple, csco, sndk and soo many others were. Dammit.
I am not sure about you guys, but I invest for long term. This is a buying opportunity -- grab some stocks and hold on to them. Europe is NOT FUCKED in long term, so things will rebound.
I am actually thankful for the greeks. € has tanked due to them... right as I am to leave for a 3 month party in Europe. Anddd the markets are down. Time to buy.
I am actually thankful for the greeks. € has tanked due to them... right as I am to leave for a 3 month party in Europe. Anddd the markets are down. Time to buy.
Found a better description of what happened Stocks, Euro Plunge on Debt Concern; Spain, Italy Yields Surge - BusinessWeek
European Central Bank President Jean-Claude Trichet held interest rates steady at a record low of 1 percent today and said it didn’t discuss whether to purchase government bonds to stem the region’s debt crisis, defying market speculation that it would take such measures. The euro maintained losses even as Greece’s parliament approved austerity measures demanded by the European Union and International Monetary Fund as a condition of its 110 billion ($140 billion) bailout.
“The ECB can fix this instantly by doing what the Fed has done -- instantly providing liquidity by buying bad fixed-income instruments and paying cash in U.S. dollars,” said David Kovacs, head of quantitative strategies at Turner Investment Partners in Berwyn, Pennsylvania, which manages $18 billion. “The reason the market is horrified now is Trichet said it’s not even being discussed. Smart investors are basically selling risk assets.”
European Central Bank President Jean-Claude Trichet held interest rates steady at a record low of 1 percent today and said it didn’t discuss whether to purchase government bonds to stem the region’s debt crisis, defying market speculation that it would take such measures. The euro maintained losses even as Greece’s parliament approved austerity measures demanded by the European Union and International Monetary Fund as a condition of its 110 billion ($140 billion) bailout.
“The ECB can fix this instantly by doing what the Fed has done -- instantly providing liquidity by buying bad fixed-income instruments and paying cash in U.S. dollars,” said David Kovacs, head of quantitative strategies at Turner Investment Partners in Berwyn, Pennsylvania, which manages $18 billion. “The reason the market is horrified now is Trichet said it’s not even being discussed. Smart investors are basically selling risk assets.”
I think the real buying opportunities will come in 1-2 months, once Portugal and Spain start tanking too. Not to mention Italy with is 120% debt.
Just wonder how the UK will play out, GBP is shit but I've got my business in it
Looking good today but I doubt it will last.
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I am coming back for a second long-ass party later this year!I think the real buying opportunities will come in 1-2 months, once Portugal and Spain start tanking too. Not to mention Italy with is 120% debt.
Just wonder how the UK will play out, GBP is shit but I've got my business in it
