Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways to Play: Euro Rallies on Greece Bailout Speculation


Strengthen your portfolio in good times and bad.

Euro Rallies on Greece Bailout Speculation

The euro is rallying against the dollar this morning after word spread that Greece will get help from the European Union to address its budget deficit.

According to Bloomberg, EU leaders are already scheduled to meet on February 11 to address Greece's situation, but it was ECB President Jean-Claude Trichet's decision to leave a meeting in Sydney one day early that fueled speculation that a Greek bailout package was imminent.

US stock futures gained as the dollar weakened against the euro. As of 7:50 AM EST, the euro was trading 1.3763 vs. the dollar.

From the Bull Pen: If we're ready to resume the bull run, copper plays may be vehicles to consider. Southern Copper (PCU) may be one option; a sell stop can be set below ($26.35) in the short term.

From the Bear Cave: One day doesn't make a trend, but on the thesis that the bullish dollar has become a crowded trade, consider the dollar bearish fund (UDN). Short-term sell stops can be set below $26.50 support.

For more ways to play and other trading ideas from more than 30 top market pros, take a free trial to our Buzz & Banter.

A Quick Check Around the World

Asian trading closed with the Nikkei -0.19%, India 0.67%, Hang Seng 1.22%, Shanghai 0.47%, and Taiwan 2.01%.

Across the pond, we see the FTSE 0.19%, CAC -0.20%, DAX -0.06%

As of 8:22 AM EST, S&P Futures are trading +10.0 to 1065.75. Nasdaq futures are +16.5 to 1751.00.

A Look at Commodities

Over in commodities, crude oil is +0.98 to 72.86 while gold is +10.20 to 1076.40 this morning. Silver is +0.245 to 15.330 and copper +0.0305 to 2.9435.

The dollar Index is -0.3450 to 80.1000.

On the Radar


10:00 Wholesale Inventories 0.6% cons.

Click here for the full trading radar.

Turnaround Tuesday? Good luck!
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos