All in all I think long term this drop is hogwash. I know everything you read is skeered to death of contagion but in reality it's no new news and while it may signify something quite larger, the effects have been no doubt calculated to the nth degree in almost every scenario. Greece economy in world rankings is in the 30's, even smaller than Dallas-Fort Worth. For the sheet to hit the fan we'll have to have something a bit larger than this to bring the markets to it's knees. Something like Spain or Portugal. I'm sure there's quite a bit of hand-wringing and posturing about but in the end they'll figure it all hunky-dory and back to running the tapes as usual.
In the grand scheme of things Greece isn't a pimple on a gnat's ass until the domino effect starts. I doubt half of the traders out there today across the world really know firsthand what risk-off really is because of their age. I say they pick up the torch and run the deal through and then when Spain or Portugal or someone else comes along and they realize the the rug isn't big enough to hold all the shit they need to sweep under it, then the wheels come off the bus. I say AU 1.10 or higher eventually, not sure from where yet but it's getting tempting in the next couple hundred pips.
So going to wait on my DXD and SRTY plans a bit and see what happens in the next 6 weeks or so.
the government cannot give anything to anyone -- that they have not first taken away from someone else.
