TZA and EUO

Both moved nicely in our direction so I took profits.  If there is one thing you can be sure about is that there is nothing to be sure about.  Over all the indicators are that we will see more chaos from Europe this week as people realize that it isn't just Greece it is all the other PIIGS too. However, we are dealing in a world of government interference.  A few weeks ago we saw an immediate 9% drop in the Swiss Franc as the government put a lid on it's value.  Last night we saw a 3.5 % drop in the Yen as the BoJ intervened.  I do not think Europe can be resolved without US assistance but we are now heading to the elections and you can be fairly sure the US will do whatever is needed.  SO contrary to most good market indicators stocks are probably a buy around here but I am going to sit things out for now.