Covered

No good to leave shorts over the weekend. VIX still too low.......

No good to leave shorts over the weekend.
VIX still too low.......

I expect a bounce on Monday.

Good call. I think for Monday its all up to the Euro now. If Euro plunges, and daily/weekly charts say there is a good chance of it, then futures should get dragged down too at least at the start. But if the dam europeans concoct some "bailout" over the weekend and start bidding up Spain/Italy bonds and save Euro from collapse for another day, then definitely bounce.

But if the dam europeans concoct some "bailout" over the weekend and start bidding up Spain/Italy bonds and save Euro from collapse for another day, then definitely bounce.

Spain 10Y rate broke out to new high today.

And this is after the supposedly "Banking Union" or "Backdoor bailout through Bank" to save spain. I wonder what more powerful magic can they pull out now.....

But if the dam europeans concoct some "bailout" over the weekend and start bidding up Spain/Italy bonds and save Euro from collapse for another day, then definitely bounce.

Spain 10Y rate broke out to new high today.

And this is after the supposedly "Banking Union" or "Backdoor bailout through Bank" to save spain. I wonder what more powerful magic can they pull out now.....

Yes, that why Euro broke to new lows.

But if ECB on some secret meeting with Merkel over the weekend decides to step into the market ( and thats really the only option, because there are no other buyers for that junk ), then they may stabilize it. If not, then there will be even higher yields Monday, and Euro will plunge, dragging everything down with it.

I don't think any of them have the will to do it yet.