I have no great insight this a.m.

I am just going to watch and let the day develop. Later in the London session we might get a hint as to witch way traders are willing to place bets going into tomorrows Sarkozy-Merkel summit on the EU Debt Crisis.

The Swiss seem bent on capping the Hot money flows into their currency. After a 14 figure move back in 5 trading days, EUR/CHF just rallied to Aug.1 high. around 114.60. This now becomes a significant level on a weekly chart.

We’ll monitor this one for a low risk trade.

Model Trading Portfolio…Current Holdings

Long S&P 500 Futures and or SSO…25% position

Many of you bought individual instruments ….( Contact for specific stops and tgt’s)