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Originally Posted by Dr. G
So I see this right before I'm about to goto bed haha... time to open up google and see what's going on.
Might as well stay up until market open now.
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Your welcome! Hope you managed to protect your portfolio a bit. I know a lot of people everywhere today got their faces ripped off. Be lucky you weren't in Europe.... Their index lost 5%+
EDIT: Papandreou calls for emergency cabinet meeting. Greek Parliament officials are saying his vote on the bailout is "basically dead" now. Markets chopped a bit higher on that news. I feel foolish to say we are now on firmer ground. Things will be decided in last minute of trading today. Will be looking for volume changes, that will show guidance for tomorrow.
One of two things might happen tomorrow. 1) Big Swing DOWN: Markets continue to drop in panic and uncertainty. Greece may be slightly resolved, but they may bring into question Italy now whom wasn't fully solved in the summit meeting.
2) Big Swing UP: Tomorrow Sarkozy and Merkel have summoned Papandreou to Cannes to get this Bailout deal "quickly implemented" before the summit talks coming up. This might, if it happens (which they better), bring up market confidence tomorrow. Fed 2-day meeting also ends tomorrow. Italy may be forgotten for a couple days.
We will be able to make a better guess when market closes.