By Gavin M.
Are you not entertained???? If there was ever a doubt in anybody's head that Central Banks would intervene, they are all gone. Watch the EURXXX trades overnight. It was one epic gap fill + melt up to inspire more confidence.
I've read the arguments from BAML + Goldman and all the other blogs out there arguing for why the EURO should be UP/DOWN. There are good arguments for both sides but when will fundamentals ever take hold on this? I know deep down the reality is that people are still Hoping against HOPE that there will be a last minute deal before July 6th. Why else are the equity markets not down as much as 10% if this was a full blown panic?
If you cannot stand the volatility in the EUR, trade other pairs and trade other securities. Otherwise, you could just give up trading until July 6th so that you can have a better handle of where we really are going. As for me, at this point, so long as NFLX et al makes me money on a daily basis, I could care less what happens in Europe.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.