Crank The Presses

Another week, another round of promises to print more money ! After an initial jump last Monday morning, the market then collapsed all in the same trading day that effectively gave the range for the whole week. As we predicted not a week to trade. We expect this week to be just as volatile, but with a down bias as whatever the Greek result is, it can only highlight Europe's problems further. The market could move sharply again Monday morning, so we propose placing a sell order for 3 contracts at Friday's close of 1342.5, we will then sell a further 3 contracts at approx 1357 and a final 3 if the market jumps above 1364. We suggest a stop loss of 1377. Should the market fall, after we have opened our position, we will be taking profits in the 1290 -1300 area.