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The Wall Street Greek blog is the syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. The stock market blog serves as an unbiased, independent Wall Street research resource on the economy, stock market, stocks, real estate, gold, energy & oil, and the dollar & forex - reaching reputable publishers & private networks.



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Monday, July 06, 2015

Greece’s Referendum No Vote – What it Means

The Greeks voted “No” Sunday in a referendum on whether to accept the bailout terms of the last program. I’m not completely shocked by the result though after examining how the decision was presented to the Greek people. The future is going to be complex, as the midnight hour is upon us now and all the most frightening scenarios are gaining weight. Contagion will begin to rear its ugly head now, as the indebted governments of the periphery see selfish opportunity for their own debt restructuring, and so support the Greeks. Meanwhile, the austere of the EU will believe they have good reason to hold course so as to not set precedent. The ECB is painted into a corner, and its legal obligations may dictate its decisions. For Greece and Europe, the next few days and weeks will be pivotal with high risk present for security investment in the near-term. For U.S. markets and investors, any severe declines likely make for good buying opportunity, but our future is foretold by the start of tightening monetary policy. If stocks do not move much on Greece, still avoid stocks at least into the first rate hike or two (see previous articles). See our full report on Greece's No Vote Referendum here.

Sector Security
Monday’s Start
Vanguard FTSE Europe (NYES: VGK)
-1.8%
WisdomTree Europe Hedged Equity (NYSE: HEDJ)
-2.2%
CurrencyShares Euro Trust (NYSE: FXE)
-0.6%
Global X FTSE Greece 20 ETF (NYSE: GREK)
-9.7%
iShares MSCI Germany (NYSE: EWG)
-2.4%
iShares MSCI Italy (NYSE:  EWI)
-3.9%

US Equities
Monday’s Start
SPDR S&P 500 (NYSE: SPY)
-0.7%
SPDR Dow Jones (NYSE: DIA)
-0.8%
PowerShares QQQ (Nasdaq: QQQ)
-0.6%
iShares Russell 2000 (NYSE: IWM)
-0.7%
iPath S&P 500 VIX ST Futures (NYSE: VXX)
+4.0%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Greek

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Sunday, July 05, 2015

Greece - Alexis Tsipras’ Referendum Miscalculation Serves Stocks This Week

Greece’s Prime Minister Alexis Tsipras has made a critical miscalculation by waiting until the midnight hour to ask his people for a referendum vote on austerity. Filled with fear and panic at this point, with access to their bank savings cut off and with many other horror stories being foretold to them by opposing party politicians, I find it hard to believe a majority of Greeks will vote “No” to life-saving capital as Tsipras wishes. As a result, I expect global markets to rise on Monday on an expectation that either this Greek government or a newly formed one will agree to what is on the table with Greece’s creditors. See more on Greece's Tsipras and his big mistake

European Sector Security
YTD
TTM
iShares Europe (NYSE: IEV)
+5.4%
-8.5%
Vanguard FTSE Europe (NYSE: VGK)
+6.3%
-7.9%
WisdomTree Europe Hedged Equity (NYSE: HEDJ)
+12.7%
+10.6%
Global X FTSE Greece 20 (NYSE: GREK)
-21.0%
-53.3%
iShares MSCI Germany (NYSE: EWG)
+4.0%
-10.0%
iShares MSCI Spain (NYSE: EWP)
-1.6%
-18.9%
iShares MSCI Italy (NYSE: EWI)
+11.9%
-13.6%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Greek

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Saturday, July 04, 2015

A Real Good Reason to Hold Gold - Terrorism in America

After speaking with a globally connected friend of mine this morning, I was reminded of a good reason to hold gold. This friend of mine is an employee of a universally known global non-profit. She said to me that she is going to have to stop reading the daily news compilation that is provided to her each morning, because it is simply too disturbing. She expands, “It’s all about ISIS. ISIS is everywhere.” It’s that last part that troubles me most. Yet, in a recent article, I reasoned why 3 recent terrorism events were non-starters for gold. This article does not contradict that piece, because if ISIS is everywhere, then it should not be long before we start to see its sponsored terrorism here in the United States as well. The 3 terrorism events that happened abroad were not a problem for America and so not a problem for the dollar. When that critical fact changes, and some important representatives of our government are indicating that could be as soon as this weekend, gold prices likely find support. Still, minor and occasional terrorism remain non-threats to our economy and the dollar; rather, it would take a significant event or regular disturbances to stop the current and very powerful trend of dollar strengthening. See more on why to hold gold. Article interests Market Vectors Gold Miners (NYSE: GDX), Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Randgold Resources (Nasdaq: GOLD), Barrick Gold (NYSE: ABX), Direxion Daily Gold Miners Bullish 3X (NYSE: NUGT).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Sell Spain - The Leftists are Coming!

Some pundits believe that any sort of closure for the Greece issue is a plus for Europe, whether the place and people from which Europe got its name stays in the eurozone or leaves it. But there is one European market sector that I do not see a positive outlook for either way. Spain looks to be the next Greece because of a political circumstance similar to what occurred in Greece before the current crisis heated up. I suggest investors sell the iShares MSCI Spain Capped ETF (NYSE: EWP) and Spanish stocks generally, because of a succession of political victories that too closely resembles what happened in Greece. I believe it will lead to division between Spain (perhaps emboldened now by Greece’s display of strength) and more progressive economies to the North. See more on investing in Spain. This article also interests iShares Europe (NYSE: IEV), Vanguard FTSE Europe (NYSE: VGK), WisdomTree Hedged Europe (NYSE: HEDJ).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Greece news

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Wednesday, July 01, 2015

BREAKING: Tsipras Conceding on Points, Schauble Unmoved – Beware Rumor, Conjecture & Negotiating Tactics

Be careful about reacting to the minute by minute rumor and conjecture dished out by European players with interest in maintaining financial market stability, and also beware the big news break that each media outlet wants to be first to report. Throughout this Greek crisis, there have been erroneous reports about resolution and breakthrough, and nothing has come of any of it up to this point. This morning, I awoke at precisely the moment Bloomberg TV was reporting Alexis Tsipras was conceding significant ground via a letter and based on a tweet from an FT reporter (his full report is below). But reports like these have misled investors in the past, as it seems the Europeans on both sides of the table have been careful to maintain order and stability in the euro and financial markets, and I believe at times have misled the media. So, let’s wait and see before we react. See the full report on Tsipras' letter here. 

Relative Securities
Yesterday
YTD
SPDR S&P 500 (NYSE: SPY)
+0.2%
+1.1%
iShares Europe ETF (NYSE: IEV)
-0.8%
+5.4%
WisdomTree Europe Hedged Equity (NYSE: HEDJ)
+0.02%
+11.9%
Vanguard FTSE Europe (NYSE: VGK)
-0.6%
+5.7%
iShares MSCI Germany (NYSE: EWG)
-0.8%
+4.0%
Global X FTSE Greece 20 ETF (NYSE: GREK)
+6.0%
-26.8%
CurrencyShares Euro Trust (NYSE: FXE)
-0.8%
-7.4%
iPath S&P 500 VIX (NYSE: VXX)
-1.0%
-35.1%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Best in New York

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