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| Slovakia’s Prime Minister Iveta Radicova |
Tonight, after much speculation they would vote it down, the Slovakian government voted on the EFSF package to save Greece and did just that. This is just political posturing by the Slovakian opposition party to sway voters, as Slovakia, just like Germany and France, have presidential elections coming up next year. I'm 100% sure they will pass it eventually, but not until they've thrown the current president, Iveta Radicova, under the bus. The fact that all this bullshit fell on an election year in the three most important countries on the planet has just added to the boondoggle. Alcoa $AA reported a stinker of a number after the bell and while everyone expected a disappoint, no one (except the options risk pricing) expected this crapola. The stock is plunging more than 5% after-hours. Between $AA and Slovakia, we're set up for some pretty rough action for the bulls tomorrow. Today I added to my $VXX and shorted some $CRM. I unloaded most of my longs save for a little Apple $AAPL, Alexion Pharma $ALXN and Arcos Dorados Holding $ARCO, only cause I think I can buy everything back cheaper later this week or next. I bought some Activision (ATVI) based on the chart, it looks like it's ready for a break.
This is not a recommendation to buy or sell any securities. DAK was long ATVI, AAPL, ARCO, ALXN, VXX, and short CRM at time of publication but positions can change at anytime.
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