Right now everyone is looking for something to do. The best course of action for the longer time frame trader is to keep your powder dry and remain in cash.

Short term guys, do what you do best, pick your spots and keep taking what the market gives you.

SPU’s keep banging up against the big moving averages coming in between 1262-66.

Sustained price action is needed under 1239-42 to do any downside damage.

This time of year…Less is More!

Model Trading Portfolio…Current Holdings

No positions

Our view is that the rest of the year will be a High Volatility, Highly Technical, Rumor Driven, Time Frame, Lemming Effect Day Trade.
The question is who’s day? Right now it’s Europe’s.

Medium Term View…

We believe the political and economic risks are now heavily skewed to an all cash portfolio. The markets will become a big day trade.

30 Yr. Bonds …I’m treating 147 as the high for a long time. 143.10 now becomes our upside pivot. Closing above this level
will be short term positive the Bonds and negative the equities.