Markets are tumbling.

Self

[LukeL]

Dow Futures are already down 125, Oil down 4.4%, Platinum down over $20.

[Jack Hydrazine]

WTI crude is now at $54.00/barrel.

[expat_panama]

Ouch --so early in the morning? Oh well, apparently socialists in general and Greeks in particular have to follow the path of gamblers and alchoholics, that they either see the problem and accept help, or they end up dead or in jail --and in the process make a mess for everyone around them.  The good news for the rest of us is we've endured worse and still prospered!  Greece may catch a lot of headlines but it's tiny 11 million people w/ a gdp of a quarter $T.  The body of humankind has a sore toe.

(from here) as of 2 hrs before opening:

Barchart Futures Market Heat Map

 

Financials +0.65%	Meats +0.32%	Softs -0.22%
Currencies -0.47%	Indices -0.72%	All Markets -0.85%
Grains -1.51%	Metals -1.72%	Energies -3.19%

[MeneMeneTekelUpharsin]

Dow futures were initially down 200+ yesterday evening over this news. So, down -125 is not that big of a deal.

[Paradox]

The market has seen this coming for days and has mostly adjusted accordingly.

[BikerJoe]

Severe Weather Alert = 15 minute thunderstorm. More Hyperbole.

Right. In the grand scheme of things, the exposure isn't that large, and if the EU had any brains, getting rid of Greece would probably be a net plus.

[grania]

....look for a place of safety to escape systemic risk and exposure to unknown or unreliable counter parties

So help me here. Why are metals decreasing? Wouldn't actual, physical possession of gold and/or silver in easily verifiable forms, stashed somewhere safe and nearby be a real good thing to have?

Is it being manipulated lower so the big guys can horde it on the cheap? It makes no sense to my (admittedly relatively unschooled) mind that metals are down.

[palmer]

The metals reflect short term commodity prices that go with short term economic sentiments. The demand for physical for home stashes is small compared to that.

[MaxMax]

Lots of pork in the Meat heat indictor. The other white meat.

[Moonman62]

I believe the PPT (Plunge Protection Team) will be in its full glory today.

...

There’s is no such thing.

[Buckeye McFrog]

I agree. This just means the Fed can continue to crank the printing presses indefinitely.

[Red Badger]

Well, there you go, using logic and reason again..............stop it....................

[utax]

well, that settles it. we’re doomed!!!!!!!!!

[DH]

A word of advice: “GOOGLE is your friend.”

Read all that you want simply by placing “plunge protection team” in the search box and you will come up with the TRUTH.

Here’s an example: http://davidstockmanscontracorner.com/there-is-a-plunge-protection-team-its-called-the-fomc/

[Moonman62]

Stockman is exaggerating.

There is no PPT, but there is an FOMC.

Just because you can search something on Google doesn’t make it true.

Some people believe in chupacabras.

[USNBandit]

Sounds like a sale.

[abb]

The NASDQ just went green. I thought y’all said there would be a crash today? The end of the world, and all that.

[abb]

And now the S&P’s green. Now just WHO made that prediction? Maybe they should be tagged as a “contrary indicator.”

[citizen]

“Some people believe in chupacabras.”

But....but....but....here are pictures of them critters.
http://www.bing.com/images/search?q=chupacabra+pictures&qpvt=chupacabra+pictures&qpvt=chupacabra+pictures&FORM=IGRE

[DH]

Now simmer down now....take a deep breath, go into the back yard and feed your flying unicorns.

It will relax you. Once you are relaxed then you can provide proof there is no PPT.

[Moonman62]

Once you are relaxed then you can provide proof there is no PPT.

...

So if a knucklehead claims there are ghosts, it’s up to sane people to prove there are no ghosts, according to you.