We've been actively charting NBG National Bank of Greece on the msg boards here at TradingView. The chart was first mentioned by Fire Fly. The historical chart show huge swings in price. Lots of money to be made for those playing options on this stock.
Chart: The Fous Revival Pattern is typical of many stocks that have been kicked to the curb and left for dead. I marked possible date of breakout using the Fibonacci Timing Tool. These confluence lines are what you see when you use Dynamic Trader Software in the indicator box. The more confluence lines you have with symetrical tops and bottoms, (high-to-high, low-to-low) the higher probability we see a pivot price move. Our next Fibonacci Timing Cluster is Oct. 29 - Nov. 1
Strategy: All you need is a few dollars and an option account. Long Option is the play. Looking for Dec-Feb Expiration Deep-Out-Of-The-Money plays. $5.50 Dec. (when they come available), $6.00 Jan., $7 Feb.
Recent Developments...
>>>> Greece's biggest lenders, National Bank of Greece and Piraeus plan to put their troubled loans into separate "bad banks" in order to restore consumers' confidence in the rest of their business, the banks' executives told Reuters.
The volume of assets to be transferred over has not yet been set. "We're in the design phase," he said, adding that the bad bank should be operationally separate by the end of 2013.
NBG may also use the bad bank structure to offload some of its bad loan exposure by finding an investor to take a minority stake in a subsidiary that will hold some of the loans.
"We've signed the NDAs (non disclosure agreements), they've seen the portfolios and they will put a price on them," said Christodoulou. "These are a number of financial funds that are trying to make a quick buck so we may or may not agree in the end."
Piraeus deputy chief executive Anthimos Thomopoulos said his bank, where impairments are running at 33 percent, was looking at ways to ring-fence bad loans from healthy ones and hoped to have its new organization in place by the first quarter of 2014.
"The market requires clarity" about the returns of performing and non-performing loans, he said, adding it made sense to split the bank now because "the situation is stabilizing, we're nearing the end of the asset cycle", a reference to the fact that interest in non-performing loans is beginning to taper off as Greece anticipates a return to economic growth in 2014.
>>>> US-Israeli fund to acquire stake in NBG subsidiary firm Pangaia
National Bank of Greece is just a step away from announcing a strategic agreement with a major US-Israeli fund that could reach as much as 1 billion euros.
Kathimerini understands that the deal between the two sides has been completed and submitted to the Hellenic Financial Stability Fund HFSF, the European Commission and other institutional authorities for approval before it is officially announced.
The formal announcement is expected in the next few days, with the deal providing for the transfer of more than 50 percent of National’s property management subsidiary, Pangaia, to the US-Israeli fund, though the Greek lender will retain the management and control of the company. This comes as Prime Minister Antonis Samaras and several key ministers are in Israel promoting political and economic relations between the two countries.
Once completed, the agreement will constitute a major foreign investment and signify a vote of confidence not only in National but also in the local economy and the country’s prospects. With this transaction NBG will decisively bolster its capital base, while keeping Pangaia in its group as it will retain its control.
Chart: The Fous Revival Pattern is typical of many stocks that have been kicked to the curb and left for dead. I marked possible date of breakout using the Fibonacci Timing Tool. These confluence lines are what you see when you use Dynamic Trader Software in the indicator box. The more confluence lines you have with symetrical tops and bottoms, (high-to-high, low-to-low) the higher probability we see a pivot price move. Our next Fibonacci Timing Cluster is Oct. 29 - Nov. 1
Strategy: All you need is a few dollars and an option account. Long Option is the play. Looking for Dec-Feb Expiration Deep-Out-Of-The-Money plays. $5.50 Dec. (when they come available), $6.00 Jan., $7 Feb.
Recent Developments...
>>>> Greece's biggest lenders, National Bank of Greece and Piraeus plan to put their troubled loans into separate "bad banks" in order to restore consumers' confidence in the rest of their business, the banks' executives told Reuters.
The volume of assets to be transferred over has not yet been set. "We're in the design phase," he said, adding that the bad bank should be operationally separate by the end of 2013.
NBG may also use the bad bank structure to offload some of its bad loan exposure by finding an investor to take a minority stake in a subsidiary that will hold some of the loans.
"We've signed the NDAs (non disclosure agreements), they've seen the portfolios and they will put a price on them," said Christodoulou. "These are a number of financial funds that are trying to make a quick buck so we may or may not agree in the end."
Piraeus deputy chief executive Anthimos Thomopoulos said his bank, where impairments are running at 33 percent, was looking at ways to ring-fence bad loans from healthy ones and hoped to have its new organization in place by the first quarter of 2014.
"The market requires clarity" about the returns of performing and non-performing loans, he said, adding it made sense to split the bank now because "the situation is stabilizing, we're nearing the end of the asset cycle", a reference to the fact that interest in non-performing loans is beginning to taper off as Greece anticipates a return to economic growth in 2014.
>>>> US-Israeli fund to acquire stake in NBG subsidiary firm Pangaia
National Bank of Greece is just a step away from announcing a strategic agreement with a major US-Israeli fund that could reach as much as 1 billion euros.
Kathimerini understands that the deal between the two sides has been completed and submitted to the Hellenic Financial Stability Fund HFSF, the European Commission and other institutional authorities for approval before it is officially announced.
The formal announcement is expected in the next few days, with the deal providing for the transfer of more than 50 percent of National’s property management subsidiary, Pangaia, to the US-Israeli fund, though the Greek lender will retain the management and control of the company. This comes as Prime Minister Antonis Samaras and several key ministers are in Israel promoting political and economic relations between the two countries.
Once completed, the agreement will constitute a major foreign investment and signify a vote of confidence not only in National but also in the local economy and the country’s prospects. With this transaction NBG will decisively bolster its capital base, while keeping Pangaia in its group as it will retain its control.