What a great morning we're having!
We were having a discussion in our Live Member Chat Room this morning about why we were staying short-term bearish despite the low-volume rally of the last few days when the market began to spike higher, so I immediately put out a note to our Members saying:
Wow, Futures flying straight up now, about 0.3% the other way now – nice morning swing. /NQ testing 4,400 for a fun short with tight stops and /ES 2,099.50 and /YM 18,030 (no short above 18,000) and /TF 1,230. As long as /TF and either /ES or /NQ are below their lines – I'm for shorting any of those 3.
The Russell hit 1,222 (up $700 per contract) and the S&P hit 2,091 (up $425 per contract) and the Dow paid $250 at 17,950 – so the Egg McMuffins are paid for and we can start our trading day.
Of course that's nothing compared to the Trade Idea we gave you yesterday morning (and these newsletters come to you pre-market, every day by SUBSCRIBING HERE) to short Oil Futures (/CLJ5) at $53.50, which are up $3,000 PER CONTRACT this morning at $50.50. That's not bad for a day's work and it keeps our hourly profit rate well over $500 for the day (we had a good start yesterday morning too).
What gave us a quick round-trip this morning was, of coruse, yet another Greece fire. This time it was Germany saying "Nein!" to giving Greece a 6-month loan extension saying Greece's proposal was "not substantial" – meaning it didn't guarantee the Banksters who really run the Government would get paid. "In its rejection, Germany argued that the Greek request doesn't meet the bailout requirements and said the proposal only aims at getting bridging financing without fulfilling its commitments."
I know this may come as a shock to the EU Banksters but, when you lend money to someone at 10-20% interest rates, which they have to pay because you have rated them a terrible credit risk – THE RISK IS THAT THEY CAN'T PAY YOU BACK! What's going on…
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