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Editor's Note:

(June 14, 2015)

The next couple of weeks could be challenging for the equity markets. The situation with Greece could finally reach a climax.

Europe has been dealing with Greece's fragile financial state for years. For the last five years they have been kicking the can down the road. Finally the Eurozone has decided that they don't want to throw away any more money on Greek bailouts without some serious reforms in Greece. The two sides have been at a stalemate because the new Greek government was elected on its no new austerity platform.

June 30th is a major deadline for Greece but it takes time to get a deal done. Thus the next two weeks could be crucial for the situation. I anticipate a lot more volatility in the stock market. Investors should not be in a rush to launch new long-term positions.

I'm not adding any new trades tonight. Last week we saw COF graduate to our active play list. Tonight I've added HBI and UA as new watch list candidates.