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There are several US related announcements coming out during the day on Thursday, so we feel the most of the action will probably be had in North America. Beyond there, we do have an oil number that can move crude oil markets, but beyond that most of the rest of the world will probably be fairly quiet.

1 – We believe the US stock markets will eventually find buyers but they do look a little bit heavy at the moment. Short-term puts could be bought, but you will have to be nimble. We prefer to actually wait for signs of support at lower levels in order to continue the upward push in the US indices. We like buying calls on pullbacks as they represent value, and believe that eventually the US stock market will get more solid footing.

2 – The US dollar looks to be on its back foot out the Euro has broken out against it. With this, we believe that the Euro will be the currency du jour going forward, and it's only a matter of time before you can serve buying calls in the Euro at well. This is a currency that has been being down far too much over the last several months, and it desperately need some type of bounce.

3 – Precious metals look very strong at the moment, as gold has broken out. We believe that the gold markets continue to go higher and that pullbacks should offer plenty of call buying opportunities given enough time. The US dollar falling in value is certainly helping the situation.