Update for Monday June 29, 2015 Premarket
Greece decided to take the plunge during the weekend to not agree to terms imposed by the rest of Euro zone. Capital controls have been imposed on the Greek people by the Greek Govt plunging the country into chaos. The Megaphone is in the hands of the current ruling party which is asking its people to say NO to the eurozone offer of more austerity. But when the Greek people will see more chaos (No food, No Gasoline, No Money, closed banks, No pensions etc) in the next few days, they may vote YES. Foreigners can still take out as much cash as they want. There may be an agreement by tomorrow night or as late as Friday if Greece votes YES
In the mean time markets have moved sharply down around the world starting in Japan, China, India and Australia. Oil is down also and Gold and Silver are not up much. We will take profits today if you are short as the decline may be temporary. We have been telling you that Dollar will strengthen in the 5th step up. This will continue with declines in between.
UVXY is up sharply today. Interest rates are down and will continue down for a while as 5 steps up of the first leg up were completed on Friday. DGAZ will continue to go up as natural gas prices continue to go down
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