sp'60min
Summary
*clown finance TV cite a Reuters report that the Greek banks have already seen a net outflow of 1bn today...
Without question... the GREEK banking system is imploding at an accelerating rate.. as the remaining fools who haven't yet cleared out their accounts are starting to make a run for it.
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Dear Greek depositors, would you like to withdraw your Euros... or perhaps you'd like some semi-worthless Drachma instead?
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A relatively quiet morning in market land.. as reflected in the VIX. The market has a fair chance of seeing a snap lower this afternoon...certainly.. the setup looks bearish into the weekly close.
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I'm mostly just watching INTC... which has seen an interesting morning swing lower...
Price structure is a crystal clear bear flag.... and the bigger H/S formation is offering next target of the low $29s... with 26/25 in the late summer. I remain short.. and will probably be trading in/out of INTC a fair few times in the months ahead... always on the short side.
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11.25am.. I am LONG VIX from 12.98.
This is a crazy low VIX... higher volatility looks due next week.