The anticipation of the press conference is out of the way in Germany.

Short term traders should take a decidedly you first approach to today.

Present Holdings… short  the 30 yr. Bonds ( long TBT) looking to sell any major rally,

or on a good close below 125.18 30 yr.

We’re short the spu right in here via a long position in the SDS mainly as a

portfolio hedge against the the soxx and emerging market longs. We’ll stay with the

original game plan and use a closing stop in the Spu over 1200.

In a world where every trade is the same the least risky trade today seems to be selling the Euro

against last nights high of 137.32. I also favor selling the Aussie on rallies against last nights highs.