by Gavin M.
While I do look forward to a very relaxing long weekend ahead, all of us the trading world just want to get this Greek problem behind us. We finally get this Greek Referendum this Sunday and nobody really knows what the outcome will be. Yes means stay with Austerity and No means get the heck out of Europe and good riddance.
If you've been trading since 2011, you know all too well how annoying trading can be when global matters like Greece get into the fray. It kind of reminds me of going for an early morning swim while being careful that I do not get bitten by hidden sharks. Trading with Greece or the US debt debate or Russian issues is like that. You want to have a nice day and you think you have a good setup then a headline comes along - ruins your trades.
I have been quite vocal on Twitter already on what I think will happen. I know that the Greeks are scared and they just had a taste of what is to come this week if they choose NO. Just like how the Scots were scared to be divorced from Lady Britannia, I know the Greeks do not want to stop suckling on Madame Merkel's teat. So I know the Greeks will vote Yes. I would be utterly surprised if they vote NO.
Those of you reading this who are Greek, vote YES, because sh!t, why would you want to go into depression. And those of you who are Europeans, especially the Germans, Congrats on another 2-5 years of your taxes going to a corrupt country in the Mediterranean.
Have a good and safe weekend everybody!
Traders from Equity Sense will be writing on this blog on positions and other market-related things.