Obviously the major news is that Greek debt is going to be restructured with the private sector taking a hit of around 100 billion euros. The next worry here is that these losses will be claimed back using insurance contracts that pay out to the private sector.

On Friday afternoon Greece were declared in default by Fitch and Moody’s.

Greece is still in massive recession and their unemployment figure of around 20% is also set to rise.

I cannot see how all these baliouts are going to long term fix the Greece problem all that will happen is that problems will be stalled as Greece depends almost entirely on its internal economy which is hampered by austerity hence restricting long term growth.

The soap is still alive !

Members here are now getting alerts (Harmonic pattern , candlestick , and divergence) from around 200 charts on the website which using our trading strategy added 139 pips in the first week of the month with no lost trades. (Its all about patience) so our Feb pip count of 363 pips looks in target for this month too but of course past performance is not an indication of what is going to happen in the future, we just stick to a strategy and let the trades play out.

Have a great week all

Paul