Danger

Greece downgraded to junk, Portugal also downgraded by S&P.  The European markets are starting to panic, and the contagion is rolling over to the US markets.  This market is very vulnerable to a sharp selloff and that's how you can lose 20 points in an hour.  A very dangerous market to be long here.  It should be interesting for the next 4 hours.  I think we'll probably test 1080.