An agreement on a new bailout deal for Greece is causing the broad stock market to surge today. While this may be a knee-jerk reaction to the news, the DOW is breaking and closing well above our stop loss level of 17,800 for our short position in this market so I am going to bail out of this position with a small loss of about 2% or less. The chances of a strong rally now are too great to justify holding a short position. Unloading my short position in the broad stock market today.
I will post more analysis of the markets and the Greek debt situation later this evening.