In general, we believe that the biggest move via economic announcement during the session on Monday will be the German PPI numbers. With that, the market will probably be driven by technical analysis more than anything else, as the continuation of what we've seen recently should continue to be the way we go forward.

1 – The US stock markets in general look fairly strong, and we believe that you can only buy calls in those markets. After all, a lot of money is running from Europe even though we got the Greek debt deal, and as a result money need somewhere to go. In general, as treasury notes simply are not offering enough yield, this throws money into the US markets. It's a good safe haven if you will, and as a result it makes sense that the NASDAQ, S&P 500, and the Dow Jones Industrial Average all rise from here.

2 – We believe that the Euro continues to have an anchor round its neck, as even though we have the Greek debt deal, the truth of the matter is that a lot of people do not believe that it will last for any real length of time. With that, the Euro will continue to fall overall, against most currencies. This will be especially true against the US dollar and perhaps the Japanese yen going forward.

3 – Precious metals continue to break down as gold has sold off below the 1140 level. With that, we feel that the market is probably heading to the 1100 level, and that any short-term rally is an opportunity to buy puts yet again as gold simply has far too many sellers involved.