Start Buying Puts – Failed Breakout. Keep Your Size VERY Small and Know the Risk Is High


Stocks are testing the downside today ahead of Europe’s “grand bargain”. On the eve of the announcement traders expected some clarity. We still don’t know if they have reached any agreements. This morning, a meeting between the finance ministers was canceled. Stocks retreated on the news. What could possibly be more important than a meeting ahead of the announcement tomorrow? Europe has dragged its feet the last 18 months and we should not expect any details tomorrow. Germany and France are still at odds over the nature of the EFSF. Supposedly, France is leaning towards Germany’s concept where it would function …

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