In the immediate future, what comes out of Greece will be the driving force in the markets. August Crude gave up 2% today and is nearly $10 off levels from just over one week ago. Aggressive clients have light long exposure and are carrying losses; we will not be adding positions until we see an inter bottom. Clients own about 50-60% of the ultimate long we want to own, but from about levels $5 higher. Those not willing to buy a standard futures could buy a mini or sell calls against their futures 1:1. On its lows today, natural gas had retraced 61.8%. Prices have yet to reach oversold levels on the daily chart, but we?re getting close. Look for buy recommendations likely via call spreads in the coming weeks.
Stocks manage to hold slight gains for the first time in seven weeks. We have no feeling at this point,
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