Think a lot of Fridays early selloff are failing to take into account some factors that are obvious to the reason's why. Believe this dates back to Wednesday of last week, you had various statements from multiple people stating that bank deposits are once again insured and not in risk of loss. With that in mind, you had NBG at +20+% Friday, price movement not once going towards the downside. The ADR sinking premarket under Heavy, Heavy volume. There was no news, both where trading, so you would think if there was negative news/rumors both would have begun to move downward together. Now if you look into the buys in the Athens exchange , they are pretty identical to the sales during the exact time of the ADR. Leads me to think that any mutual funds, any heavy investment funds that where in the ADR had funds moving directly to the Athens exchange. One might say why not before, why now? Well for one, there had been no public statements yet that had said the once again the depositors are insured in the Greek banking system. To me factor all this in and it only leads to that. There is no other explanation of Fridays action.
