Greece Problems Persist

Greek stocks slipped again today as fears remain about the country's ability to remain solvent. Credit spreads are widening and investor sentiment is increasingly pessimistic about Greek stocks. National Bank of Greece (NBG) declined 6.2%, dropping to $3.33. This is significant because National Bank of Greece slid below its 52 week low today. Shares are down 15.7% over the past 5 days. There is no telling exactly how low National Bank of Greece will drop. NBG is below its 50 day moving average and its 200 day moving average. Shares will likely continue downward unless an agreement is reached to rescue Greece, This stock is not for the faint of heart. The upside for this stock is substantial but speculators need to tread carefully when buying shares.