Greece ETF (GREK) Is A Wreck

m>Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Greece ETF (GREK) shares are trading sharply lower by $1.78 at $10 in Monday's session. With the hope of a deal to remain in the European Union fading and the Greek banks being shuttered until July 6, investors are throwing in the towel. All last week the ETF flirted with the $12 level, making intraday highs above that level, but ended the week with its lowest close of the five sessions at $11,78. After a sharply lower open ($9.96 vs, Friday's close of $11.78), it continued lower and found support ahead of its three year low from April 21 at $9.76, only reaching $9.85 before rebounding. At this time, it is struggling to remain in double digits. It is on track to have it biggest volume day since February 20, when over 5M shares changed hands and ended the session at $14,11. With four hours remaining nearly 3M shares have traded. Gree