1.Everyone knows that Greece is not fixed, but a moment of relief euphoria is around the corner.
2.CHINA will not move all at once to adjust the currency.
3.Investor sentiment is bullish, bu not wildly so, yet ....75 and.89 on our proprietary readings
4. Natural and Man made Disasters take a while to manifest so Volcano and Gulf will be works in progress as to their economic impact.
5. Economic numbers continue to suggest a comfortable recovery underway.
Therefore, We favor a long position in large cap equities until sentiment is at our target of .69 and .79 respectively.
Long Crude spread
Long SPX spread
Long Dollar spread
Long Gold spread
Short Sterling spread
Short Copper spread
Look for a low in the morning followed by a reversal rally to new highs
stay tuned for the crude trade it too will make new highs this week.