Hey everyone,

Well so far as I write this the Mini’s are really taking it on the chin. As the pictures of Greece start coming across the screen the traders get quite rattled. And understandably so. The recent Flash Crash doesn’t help the bulls picture at all, I was thinking yesterday that we would see some type of relief rally today, or tomorrow. Next week at the latest. But so far that hasn’t been the case. Where will this end I don’t know because when panic sets in it is stronger than greed. So if you long, you need to be hedged and hang on to your hat/butt.

If there really is a crash traders/folks will go to gold hence my long gold position, and long Vix calls.. Alway always hedge your portfolio as that keeps you in the game, for those of you who have options held they will rock today when the VIX rockets up. So that is when you want to sell not buy them.

Jobless claims coming up shortly but I don’t think it will have too much of an effect on the markets at this point. I do feel an underlying feeling that is not good about the whole planet right now and pray I am wrong as things feel very very shaky.

I was long the EUR yesterday expecting a bounce and profited almost 400 pips and the stock market was completely diverged from it. That was a bit disconcerting. Will someone come in and try to sell down the dollar again or make an announcement to stop collapse as in trading you always have to be prepared.

Now for a chart of the SPY to see where we are on the 30 minute charts.

Now as you can see there are a number of False prints to 116 area and 115 area and the lower indicators are screaming to be bought, now that being said they can be that way for a bit but remember all those Open interest put holders for May. So we shall see how this plays out.

Now let’s take a look @ the 60 minute chart

 Good luck to all and trade well xoxox Anna