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  • #606,521
  • Mar 9, 2012 12:13am Mar 9, 2012 12:13am
Quoting Cerber.bf2
one of the golden rules of the forum, if you can't explain it, it's a stop hunt
Yup, most likely a stop hunt, though it wonders off short and wtf? shop hunting prevented by the daily pivot? o_O
Please, just slap me around if I'm being silly ...
  • #606,522
  • Mar 9, 2012 12:14am Mar 9, 2012 12:14am
They are saying the activation of CACs: collective action clauses could trigger a credit event...

meaning CDS....
  • #606,523
  • Mar 9, 2012 12:14am Mar 9, 2012 12:14am
Im not so sure about 1.3230 holding anymore. lol
Follow me on twitter @whimtradr
  • #606,524
  • Mar 9, 2012 12:15am Mar 9, 2012 12:15am
Quoting Jackthepiper
They are saying the activation of CACs: collective action clauses could trigger a credit event...
So? IT's still a pro, not a con.
Please, just slap me around if I'm being silly ...
  • #606,525
  • Mar 9, 2012 12:17am Mar 9, 2012 12:17am
They'll still wait for march 23rd to hopefully get consent for the non greek law bond holders. Those ones can't be threatened with the greek law. It's funny that they say 69% of those already accepted but they still wait until the 23rd...
  • #606,526
  • Mar 9, 2012 12:17am Mar 9, 2012 12:17am
Quoting Cerber.bf2
one of the golden rules of the forum, if you can't explain it, it's a stop hunt
Explanation: Greece just defaulted ... finally.
"Don't Panic..."
  • #606,527
  • Mar 9, 2012 12:18am Mar 9, 2012 12:18am
My last post yesterday was that EU willl be a sell off today... Well euro is in trouble and I am ready to throw the kitchen sink with it. 4 orders open already let's see how this HELL SELL pans out..
  • #606,528
  • Mar 9, 2012 12:20am Mar 9, 2012 12:20am
Quoting Halifax
Explanation: Greece just defaulted ... finally.
no more 493 stories on Greece per day in the news? really?? Santa just made me orgasm.
  • #606,529
  • Mar 9, 2012 12:20am Mar 9, 2012 12:20am
Quoting Forex-novice
is that good or bad? i see the pair dropping....
Itīs not bad, but big boys expected over 90%. For me this results arenīt signal to go long or buy - neutral. We will se where it go. For me I expect first big drop down and next slowly go up. First testing 1.32, next 1.31 and on the plan I think is 1.30.
  • #606,530
  • Mar 9, 2012 12:22am Mar 9, 2012 12:22am
I had a perfect entry 1 and a 1/2 hrs ago, didn't take it. Was too scared. Had at least 40 pippers by now.

Sh*t happens, looking for a re-entry point.
Please, just slap me around if I'm being silly ...
  • #606,531
  • Mar 9, 2012 12:22am Mar 9, 2012 12:22am
Quoting Cerber.bf2
no more 493 stories on Greece per day in the news? really?? Santa just made me orgasm.
Hah, what would the financial media talk about then? Oh wait italy, portugal, spain, japan, UK, Ireland, US ......

I'm sure default will be reworded into some orwellian double plus good term and everything will be ok.
"Don't Panic..."
  • #606,532
  • Mar 9, 2012 12:23am Mar 9, 2012 12:23am
good morning at all
  • #606,533
  • Mar 9, 2012 12:24am Mar 9, 2012 12:24am
Summary for you:

-85.8% of bondholders have accepted the bond swap offer
-Greek Bonds worth EUR 172bln tendered in debt swap
-Greece participation rate in debt swap 95.7% after CACs
-Greek foreign law bond participation rate 69%
-Greek law bond participation rate 82.8%
-Greece extends tender on foreign law, SOE bonds to March 23rd
-Greece extends settlement date for foreign law bonds to April 11th
-ISDA Committee to meet at 1300GMT to determine if a credit event occurred
-Greek Finance Minister Venizelos affirms commitment to reform program
-Greek Finance Minister Venizelos warns of onerous terms for holdouts in the bond swap

I made the ones important bold for those who still donīt understand whatīs going on here
Quant Hedge Fund CEO
  • #606,534
  • Mar 9, 2012 12:25am Mar 9, 2012 12:25am
Quoting FXMastermind
Summary for you:

-85.8% of bondholders have accepted the bond swap offer
-Greek Bonds worth EUR 172bln tendered in debt swap
-Greece participation rate in debt swap 95.7% after CACs
-Greek foreign law bond participation rate 69%
-Greek law bond participation rate 82.8%
-Greece extends tender on foreign law, SOE bonds to March 23rd
-Greece extends settlement date for foreign law bonds to April 11th
-ISDA Committee to meet at 1300GMT to determine if a credit event occurred
-Greek Finance Minister Venizelos affirms commitment...
and you automatically become my nominee for the 'helpful mate' award today, thanks
  • #606,535
  • Mar 9, 2012 12:25am Mar 9, 2012 12:25am
Quoting daemon_delux
So? IT's still a pro, not a con.
In the long term yes, it preserves the sanctity of CDS.... but in the short term this pair should move lower to reflect a sovereign default
  • #606,536
  • Mar 9, 2012 12:26am Mar 9, 2012 12:26am
Quoting FXMastermind
Summary for you:

-85.8% of bondholders have accepted the bond swap offer
-Greek Bonds worth EUR 172bln tendered in debt swap
-Greece participation rate in debt swap 95.7% after CACs
-Greek foreign law bond participation rate 69%
-Greek law bond participation rate 82.8%
-Greece extends tender on foreign law, SOE bonds to March 23rd
-Greece extends settlement date for foreign law bonds to April 11th
-ISDA Committee to meet at 1300GMT to determine if a credit event occurred
-Greek Finance Minister Venizelos affirms commitment...
Thank you, Mastermind, was thinking of the ISDA thingy.

Sooo, that means we're going for a ISDA ride, along with the NFP. you just gotta love this day, it'll be so clear in 1/2 hrs since ISDA release.
Please, just slap me around if I'm being silly ...
  • #606,537
  • Mar 9, 2012 12:27am Mar 9, 2012 12:27am
1st. TP hit 3226... next
  • #606,538
  • Mar 9, 2012 12:29am Mar 9, 2012 12:29am
Quoting FXMastermind
Summary for you:

-85.8% of bondholders have accepted the bond swap offer
-Greek Bonds worth EUR 172bln tendered in debt swap
-Greece participation rate in debt swap 95.7% after CACs
-Greek foreign law bond participation rate 69%
-Greek law bond participation rate 82.8%
-Greece extends tender on foreign law, SOE bonds to March 23rd
-Greece extends settlement date for foreign law bonds to April 11th
-ISDA Committee to meet at 1300GMT to determine if a credit event occurred
-Greek Finance Minister Venizelos affirms commitment...
Bancrupty? :-)
  • #606,539
  • Mar 9, 2012 12:29am Mar 9, 2012 12:29am
Quoting Whimtradr
Im not so sure about 1.3230 holding anymore. lol
I'm standing my ground.. 225 is pretty tough. I'll buy more around 3170 if it does break
  • #606,540
  • Mar 9, 2012 12:29am Mar 9, 2012 12:29am
Quoting Henryk
Bancrupty? :-)
Might be.
Please, just slap me around if I'm being silly ...
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