This A.M. we sold some S&P 500 to hedge against our short Bonds and Long Equity Nibbles.

It’s going to get busy after London’s close today with a statement expected as to the survival of Greece followed by a 30 Yr. Bond auction. ( So stick around) Only Trade where you can manage your risk! Keep your stops in place in the individual instruments. The short S&P should more than make up for any small lose incurred if we start down again in the equity indices.

Bonds…Those short term guys actively trading it, hopefully, you took the money at the level. TBT traders should lighten up on your Longs. We need all new weakness under today’s low for follow through, and a confirmation of a longer term high in the market.