Greek Stock Exchange is Finally Open Promptly Crashes over 20%

by John Galt
August 3, 2015 05:00 ET

Now this is how you crash when a stock market opens:

Since the open there has been some dead gyro bounce as some crazy fools are trying to buy some issues in a totally bankrupt nation and illiquid stock market  but reality is that this will be without a doubt the most volatile market in the world for some time. Of course they still have time to adopt the ECB/PBOC/Fed model of rigging their markets completely so the day could still end up positive with short sellers being declared a national threat and lined up against the wall to be shot. On a positive note, it has bounced off of its 52 week low. Otherwise, this looks like the disaster many observers thought it would be with bank stocks being sold heavily in early trading with most of them down close to 30% at the open.

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