National Bank of Greece ADR (fka NBGGY)

[Huggy Bear]

ECB stress test data out. I have been sitting on the sidelines here waving back and forth on whether to go long, if the time was right.

The recent 52 week lows were very appealing but I didn't pull the trigger, knowing a negative result from the ECB would create an even more discounted 52 week low.

I am going to have to dig up more detail on the stress tests and analyze the metrics to proceed. This may be the type of news that is viewed as a market negative, NBG is clearly not out of the woods yet but it appears that NBG can avoid another round of dilutive recap which is a huge long term plus.

Will be interesting to see how the market reacts to this.

I see the possibility of a short term pullback but I doubt anywhere new the low 2's again. Congrats to those who pulled the trigger there on a very speculative entry in a time of uncertainty.

Five of the banks — Eurobank, National Bank of Greece, Nova Ljubljanska Banka, Nova Kreditna Banka, and Dexia — will be able to make up for their capital shortfall by sticking to their current restructuring plans.

http://finance.yahoo.com/news/13-europe-banks-flunk-test-must-fix-finances-110300870--finance.html