My Current thoughts based on sentimentUSAGgaining more and more...

My Current thoughts based on sentiment

USA
Ggaining more and more confidence they have bottomed and there are signs INVESTORS are WILLING to reenter the market

Still influenced by Europe but growing tired of the slow actions of the EU

Quite prepared to allow the ECB to become LENDER OF LAST RESORT to bail out anyone and everyone....The simply do not care if the can gets kicked down the track a bit more...say ten or so years

EUROPE
Completely fed up with a number of GOVERNMENTS and will support AUSTERITY as they realise they have NO CHOICE

Germany, France are starting the question the validity of protecting the single currency status and the fear the Euro may collapse is not as big a deal anymore

CHINA
Have their house in order and will not bail out Europe unless they get something out of it...

AUSTRALIA
Think the problems are someone else's issue and happy to put heads in the sand....

Conclusion
What this all says to me is the BEAR market is under pressure to end as all the HYPE appears to have been factored in and whilst Europe is a basket case, it will have no more affect on the Globe than the ASIAN crisis in the early 90's.....

Still heaps more volatility to come, but the downside drops may no longer as DRAMATIC as has been the case as demonstrated by the equal upward movements as shown last night (light volume ignored)

As I have time advantage on my current trades, I will exist half my puts Monday and convert to Calls for directional swings for the next three weeks.

Will only be scalping at best

I don't think their is enough momentum or sustainable positive news to break to far to the topside..