Heads Up: Monday is going to be in the red

With this new news of the Greek Crisis worsening, things are not looking too good for Monday. On Sunday it was announced that the Greek banks would be closed Monday as well as the Greek stock market. D day for Greece means D day for the Markets Monday as the markets don't like news like this. Its very unsettling as everything can back up on everything else while at the same time shining the light on other countries that may have unstable markets. Perhaps even shine the light on our national debt or weakening dollar. Its like telling someone that is already a bit shaky about being in the graveyard at night that you think you just saw a ghost. Who knows what is going to happen.
It doesn't look like any last minute deal is going to be reached on Monday either. Greece just had nothing to bring to the table and they are refusing the concessions that Germany and other EU lenders are demanding.
So my advice on Monday is if you have puts or shorts, think about selling them when things really start dropping. Take the money. Also Monday will probably be a bad day to try anything new or long or learning how to trade or anything like that. Sit it out and watch the turmoil.
I took off my tech analysis section on my site, www.the1045report.com as we are now in a news cycle with the news over technicals. So tomorrow, what I am going to do is watch, possibly sell some puts and make some money on the down the market will most likely experience.
As the market open nears, you will be able to verify this by looking at the premarkets. Look at the futures, look at other indicators and if you see a lot of red, this is the way it will probably go. The last half our before open is usually pretty solid.
As a matter of fact my friend knew this guy who did this: 15 minutes before open he checked the premarkets. If they were down, he did nothing and played golf all day. If they were up, he called his broker and moved his 100,000 grand into the market for the day (I presume blue chips) with an order to his broker to move in the 100 grand at open and sell right before close. Then he played golf all day.
He did this every trading day and at the end of the year he would usually make 100% for the year, as in another 100 grand. The last 15 minutes before open looking at the premarkets will give you a pretty good indication.

Until the morning,
Tradinginsider