There are scary headlines coming out of Europe regarding Greece. Bloomberg has reported and the IMF has confirmed that unless the IMF receives more guarantees from the EU it will not release the next round of financing to Greece next month.With the EU divided on how to deal with Greece its hard to see the EU making new guarantees.
Its possible that this is great political posturing to scare Greece. It definitely has me scared. This doesn't mean people wont whistle past the graveyard and we cant rally until then, but there is a landmine out there. My trades are likely to remain small until there is a resolution to Europe or we see some real panic.