No stops hit and we got a successful entry in our new short put.

The potential for Greece to get a bailout kept the markets from losing a lot of ground although they did finish negative. With only one position at the open we were not in any real danger.

The Toyota put position was opened this morning and Toyota gained another +1.09 on a down market day. I would like to think that the worst is behind them and TM will move over resistance at $80 early next week.

The EU is meeting on Thursday to discuss some long term topics in a meeting that has been planned for a long time. The new topic of Greece will definitely monopolize the conversation but I don't expect anything concrete from this session. They will probably just agree to support Greece but with no firm actions. The EU finance ministers meet on Monday and that is a more likely time to expect some bail out remedies to be suggested for consideration.

Thursday is Iran's big "punch" day for world powers and so far nobody knows what the punch will be. The markets are moving up overnight on the Greece news so either everybody forgot about Iran or they believe it was empty talk.

No new plays today.

Jim Brown

Current Portfolio

Current Recommendations

None Today