Rumours of yet another explosion at an Iranian  site.  Talk that Congress will not agree to an IMF resue of Europe.  Heavy "intervention" in the gold and silver markets to keep prices dow.  Everything depends on rumours.  I Still have YCS, AGQ and have taken a position in FAZ - they are all somewhat "paired" trades in that one might win and another lose but if all hell breaks out they could all win.

Next week is when Europe solves all its problems - at least that is what the market is expecting.  I am still short the Yen and long silver but I am looking to go short stocks around these levels.  I may put some shorts on later today but we have to anticipate a euphoric rally when all "Europes problems are solved" - which they won't be until all the PIIGS get to renegotiate their debt.  I covered shorts in the Euro last week ( by selling out my EUO position ) because as I said "it has become a crowded trade" -  too many speculators were short.  Since then we have seen a good rally in the Euro.  The best trading you can do is to find crowded trades and fade them.

I have been putting on a small position with a close stop.