EurAnalysis

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Voters Punish New Democracy and Pasok; New Election, Euro Exit Coming Up? Best thing For Greece is Tell the Troika "Go to Hell"




Assuming no defects in Pasok or the New Democracy parties, the pro-austerity may just scrape together enough votes to barely piece together a ruling coalition. How long it lasts is another matter as Pasok was humiliated with a third place showing.

Reuters reports Angry Greeks reject bailout, risk euro exit

The latest official results, with over 61 percent of the vote counted, showed the only two major parties supporting an EU/IMF program that keeps Greece from bankruptcy would be hard pressed to form a lasting coalition.

New Democracy was polling just under 20 percent and PASOK a humiliating 13.6 percent with the Left Coalition on 16.2.

In the last election in 2009, PASOK won a landslide victory with 44 percent and the Left Coalition had just 5 percent.

"I cannot take it anymore, living as beggars in our own country. The Left Coalition can shake them up, and wake them up," said Kate Savvidou, 65, a pensioner who deserted PASOK

PARIS (The Borowitz Report) – The Fox News Channel reported today that French voters have followed in the footsteps of their American counterparts by electing an openly Socialist man to the office of President.

According to Fox host Sean Hannity, the two Socialist Presidents, Francois Hollande and Barack Obama, are expected to work closely together because they share a common goal: “To make each of their countries the best possible version of France.”

Mr. Hannity said that he anticipates the two comrades to eventually merge into one transatlantic Socialist super-president called “Obamalande.”

“Remember, these two brothers-in-arms share a lot in common, besides being flaming Socialists,” he said. “They were both born outside the United States.”

There are already signs that Messrs. Obama and Hollande are collaborating, Mr. Hannity said, "and the French know a thing or two about collaboration."

The Fox News host said the two men have already exchanged ideas, such as the French adopting a version of Obamacare and the Americans surrendering in Afghanistan.

In Paris, defeated French President Nicholas Sarkozy told reporters that he was looking forward to spending more time with his wife, Carla Bruni, adding, “Have any of you seen her anywhere?”

In other international news, Chinese dissident Chen Guangcheng said he was eager to enjoy new freedoms in the United States but said, “I will probably avoid Arizona.”

May 6, 2012

Fox News Reports: France Joins America in Electing Socialist President

Two Comrades to Merge into ‘Obamalande,’ Says Hannity

http://www.borowitzreport.com/wp-con...Obamalande.jpg

The events of this past weekend are no joke and will have serious impact on the markets tomorrow as the US reacts to the situations in both Greece and France. The euro will surely fall further. To which levels? That's the million dollar question.

If you want a reliable news source, I would suggest that you NEVER watch a Sean Hannity show again

And for what it's worth, maybe don't watch FOX at all

Before


http://www.forexfactory.com/attachme...0&d=1336010448


After

Anyone:

Will we see the Friday close again this week @ 1.3083?

http://business.inquirer.net/57211/e...world-currency

This guess would be too much for the Monday Morning

These are huge fundamentals. The French and Greek elections spell doom and gloom for the Euro...at least for a while. I vote no gap fill this month.

i never do; don't own a tv. However, sh is correct; obama was born outside the us and it's helpful to truth that he brought that up, imho.

No one actually knows for sure where Obama was born.
If their was 100% that he was born outside the USA, he would not be president.

anyone thinking we need any sort of correction to short more, or are we going to be consolidating here at 1.2985

and where are my manners?

hello everyone, hope you had a good weekend

thanks for the great charts PT

If you are holding short from 1.31 then I think keeping it is ok. Presently I am not able to see any trade set up for this pair. Those who are in Long - simply gambling, assuming Price will fill the Gap.

Problem is going short now,its almost we are getting suckered in then bang it flys up to 13200.Still can't hold my longs for ever unless I do a small sell to pick some pips an get out quick.
Thinking cap is on,hmmm

can you post any chart supporting your trade decission?

I was long until 2983, now im short again same spot, got an extra 20 pips on my main position (closed at 2964)

Suckered in like flies? I think it would takes some crazy news. If you believe we are breaking the 1.295 area and going lower, and you made some profit off the move last week, why not scale back in at least half way? then if the prices drops to where you took profit on your main position, add the other half back. if the price move higher against your first half you scale back, you have the half of position to pick a key spot to get short again.

You see that nasty weekly bar from last summer? It's possible we see something like that again this week...

just my thoughts