Greece to reopen stock exchange this week

Discussion in 'General Trading Discussion' started by baudwalk, Jul 28, 2015.

  1. baudwalk

    baudwalk Senior Investor

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  2. Rainman

    Rainman Senior Investor

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    Apparently their Stock exchange won't be reopened this week. Technical glitches made it impossible. Since it is expected the Greek stocks will plummet for someone willing to take a big gamble then I think this should be the time to buy and hold some Greek stocks and wait patiently for the stocks to surge.
     
  3. Onionman

    Onionman Senior Investor

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    I'm guessing we're going to be in for a very wild ride when it does reopen. No doubt there will be people making a lot of money out of this situation, whichever direction the market goes in. Time to buckle up!
     
  4. crimsonghost747

    crimsonghost747 Senior Investor

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    Monday should be fun to watch, there should be a lot of volatility ahead in Athens. Personally I'll be keeping my fingers away from this, I don't have the time to trade even semi-actively right now and any buy & forget investments in Greece are way too risky in my opinion.
     
  5. kgord

    kgord Senior Investor

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    It will be interesting to see what happens with Greece in the future. They have certainly mis managed their economy so far so what will happen in the future with this country will be anyone's guess. It is a country that is likely to remain unstable far into the future.
     
  6. crimsonghost747

    crimsonghost747 Senior Investor

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    Well right now they are trying to negotiate a 24 billion euro bailout... just to precise this would be just a fast short term bailout to keep them afloat while they negotiate a bigger one. Apparently 10 billion would go to initially refinance their banks and about 10 billion would go into the loans and bonds they need to pay back in the next few months. Nothing was said about the remaining 4 billion, so I guess that will just disappear into Greece like the rest of the money does.
     
  7. Beary

    Beary Member

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    I wonder how far Greece markets will fall; it could be volatile or just a straight down rocket. No investments in Greece but I will still watch it open. Someone will make money off it whichever way it goes.
     
    Last edited: Aug 3, 2015
  8. baudwalk

    baudwalk Senior Investor

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    The BBC is reporting that the Greece exchange will open in a few hours, as I type this, and watchers expect the Indicies will drop by 20%. We shall see. In any case I can't see how it will materially affect the USA markets. The Greece GDP is small.
     
  9. Onionman

    Onionman Senior Investor

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    20%? Nice! To be honest, it's less to do with Greece as such, but more to do with other European economies that have struggled to keep up with eurozone requirements (Spain, Italy, Ireland, Portugal etc). And even then it's really more to do with Germany and France handle the crumbling of the project. The economies are so interconnected the issue will be about where the contagion starts and stops. That's the risk for outside of the region.
     
  10. Sunflogun

    Sunflogun Well-Known Member

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    That is true, all the economies in the Euro region are connected and Germany above all is pulling all the strings to their personal benefit as far as I see it. It's a scary picture.
     

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