Any Thoughts on Tonights Big Vote and Markets?

[MadMarketScientist 11]

I got a call from a broker advising me to consider sitting out trading later -- I usually take a Dax trade or two overnight.

 

The reason is the Ireland vote on their bailout - the feeling is it has the potential to run the Dax and other European markets up or down a 100 points in a split second.

 

Of course hate to miss that opportunity if it was to break my way but granted it becomes a coin toss trade with no ability to stop out many times so that's probably gambling and not trading. However fun it can be

 

Anyway, any other opinions on this -- will you be trading or would you?

 

MMS

[Kiwi 16]

What time though ... they vote during my day ... or maybe they don't.

 

Its 2200 in London now and 8 am here. I start trading at 12:30 for HSIs main trend move so I guess the leprechauns will be tucked up in their little beds.

[MidKnight 12]

hmm...what time is this supposed to happen? I can't find anything on the matter.

 

With thanks,

MK

[johnnycakes78704 10]

I have a friend who has shares of AIB who should have exited earlier today and rebuy or short depending on the results. For him, given their current standing, he'll be ok if he misses the immediate break upwards as he is a long term investor, so long as he pays attention and gets back into it.. However, if it falls, he'll be happy he took a 10% profit since opening the position and eliminating potential for loss.

 

Just read an article stating that it is hinging on the two independents who will not abstain. If Cowen gets those two, he's got his budget. If he loses, there will be a general election in late December so some members of the opposition party have said they will abstain, instead choosing to attack in March, gain power, then default on the bailout loans.

[MadMarketScientist 11]

Looks like my broker was wrong on the night of the vote -- what a surprise --

 

DUBLIN (AP) — Debt-struck Ireland braced for the painful details Tuesday of the toughest budget in its history, a condition for receiving a massive international bailout.

 

Finance Minister Brian Lenihan's 2011 budget is being unveiled and voted on Tuesday night in parliament as protesters gather in exceptional snow and ice outside.

 

 

At any rate, it's coming just tonight not last....