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[Islander]

Fear over economy might push to March 16 th low : 1249. ?

The near term target price is at 1220.75 for testing. That's the 38% Fibonnaci retracement from July 2010 low to May 2011 high, now supportive trendline on the weekly chart. Below that is the bad lands: no law and order puts open down there.

Short on a collar double down and holding.

Rumors that Fed does not want to do any further easing seems to be kicking the supports out. EU is weak and so is China

Short gold and silver still open expecting further slow decay.

Islander

PS bonds are not too shabby here.

Best, Islander