Despite the occasional sporadic Cypriot news report, the market will probably close at least marginally green. Taking out the sp'1563 high will be difficult, but as we've seen so many times, a latter day recoverys is more than likely. Why would today be any different?
The opening declines certainly didn't affect the VIX much, which maxed out with gains of just 4/5%.
*I am long Oil (via USO) for a near term trade.
Underlying pressure for both Oil and the precious metals is still upward, although I'm leaving the metals alone. I'd rather trade them on the short side in April/May.
back at 12pm