1.The German parliament voıted for trhe EFSF leverage is rather a farce as the opposition speaker made clear the 2 options have not been presented in detail and going forward when the real terms get clear it will need another vote. The fund within fund in very obscure and not anywhere close to reality. The problem is the EU is nowwhere close to a solution as they have there people out making an obscure roadshow to win over investors which they will need in any case and the banks do resist so far a 60 plus cut of Greece debt which is the other obstacle far from any closure yet.
Still markets keep buying the rumor and I doubt any solution will be delivered any time soon making a high probability play looking at astrology that things will look very ugly in 2-3 weeks when no solution has been reached.
In the mean time the market will ( not me or we I hope) stick to the cover shorts agenda and get rid of the bearish sentiment to prepare for a real drop starting second half of November.
- PARLIAMENTARY SOURCE SAYS GERMANY’S BUNDESTAG LOWER HOUSE OF PARLIAMENT APPROVES MOTION TO STRENGTHEN EFSF VIA LEVERAGE
- 503 vote in favor of the measure; 89 voted against, while four abstained in Berlin today – so this is a surprise we take it?