re: OFFICIAL- UK votes to leave the EU

I will be buying for DEO next week.

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As the dollar strengthens against other currencies we will likely see oil go back down.

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down 6% at the moment

I think they flipped the breakers about an hour ago. Didn't do a whole lot

Must suck to have to be the first to react to the news.

At least we're still the best of the worst!

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I fail to see why this is having such a massive global impact on financial markets.

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Leave got smashed in the polls this past week, and traders bet accordingly. If you're using a benchmark of one week ago, when polls were closer to parity, you're talking intra-day depreciation against the $ of 5% and not 10%. The markets priced the wrong damn thing in, as evidenced by the appreciation before the vote.

And now we're up to 8.5% intra-day, 4% down from one week ago. Ideally the ECB and BoE don't botch their messaging over the next few hours and this volatility ends up looking silly.

This all is trying to assume that the trade across the globe goes down, especially in UK as it would be less efficient to conduct business, correct? Basically, now companies have to make deals with the U.K. And the EU separately when previously it was a single deal.

I think forecasting the actual impact is being overblown. The U.K. is still a large enough economic power that countries and companies will negotiate with it. This isn't like if a smaller country like Portugal left the EU where they go to the back of the line never to see the light of day.

In short, for the drops to be real, you have to expect the trade and investment of the globe to be materially lower after Brexit than before.

Wow. IBEX (Madrid) down over 15%

That's an index. Talk about buy the fricking dip.

It's a bloodbath this morning

Not as bloody as it was at its worst last night and not as bloody as I hoped to wake up to.

I was hoping to see oil lower. It hit in the 46s last night and I wanted it around there