The preferred shares will always follow the path of Greek Bonds. Its basically no different then a bond. If you pull up a price chart of 2yr,5yr,10yr Greece Bonds you will see that the preferred follows it. If four weeks ago as yields went up, preferred crashed, two weeks ago yields started to staplize and drop, that's when preferred made its run. Then take from Four days ago to today, the yields once again began to go up steadily, thus preferred has begun to sink again. Anyday before trading starts just pull up what the bond yields have done in Athens and that will tell you clearly whether the preferreds will be up or down for the day.
