SPU’s…price action over 1366 will have us seeing more “Risk On”. We need to see price action back under 1360 to entertain keeping our short S&P’s and long SDS.

We’ll monitor this for a little while this a.m. We’re not going to turn this into a loser.

EUR/JPY…could retest 109 from here.

Euro…Point & Figure shows all new strength is needed over 132.80 ish for higher prices.

EWH…closing over 18.25 is the catalyst needed for higher prices.

OIL…I got a little aggressive as to the perfect level to reload some longs @ the mid 102 area. This needs new strength over 107.50 for higher prices.

We’re not going to chase anything today. Be patient and let the Greek Drama Unfold.

Model Trading Portfolio…Current Holdings

………………                               Stop Close             Profit Points

Short Spu’s                                1366                      1323-6/1308

Long SDS                                   16.00

Long EWH                                  17.30 intra-day

Short EUR/USD                         134.10                    131.50/130 70

Short Term View

Location ,Location,Location….if you have a good trad able pattern “Good Risk reward!” You just have to seize the opportunity and see what develops!

Trade to Make Money!

Medium Term View…

30 Yr. Bonds …147 is the all time high in the front month futures. We will watch price action off this level for any potential surrogate moves in the currencies or stock indices. 144.20 ish now becomes our macro pivot. All new closing strength over 145.20 would have us looking for more upside in the Bonds. Closing above this level would be short term positive the Bonds and negative the Equities.

We’re going to be eyeballing a “possible” Long over the next couple of weeks via either the 30 Yr. Futures of the TLT ETF. We will be monitoring the Spu/Bond spread to confirm a trad able level. While the markets could certainly turn at month end, the week after could provide the better opportunity. Since we only trade what is in front of us,we’ll wait for a proper setup to initiate.

Equities…We will continue to strategically buy hard breaks in Etf’s and individual instruments we feel have the best risk profiles going into the end of the first qtr.

Currencies…Our view is the Aussie Dollar remains a most attractive investment. The Bonds are high yielding making this currency desirable on breaks. It also has the benefit of the underlying commodity and Asian growth story to support buying the dips.

The Aussie typically mirrors the S&P 500 which also makes it an easy surrogate to trade, whether Risk On or Risk off. It’s liquidity makes it easy to hedge currency risk if you’ve the underlying Bonds, which makes you Long Aussie by default.