Trading Update, 9/14/11

I added another condition for the FAZ entry order, such that if it drops to the lower portion of its recent range or if it breaks a bit above Monday's high, I will enter with 1 lot.

Some analytical highlights from Todd Harrison's always insightful and instructive daily column over at Minyanville.com:

• The trick to the European debt "trade" is to avoid ad-hoc, one-off solutions (as we saw in the first phase of the crisis) and address this mess with a comprehensive plan.
  
• You know my take -- debt destruction and/or reorganization is the only true medicine -- but you also know it won't come easy. The toughest, and typically right decisions rarely are.

Disclosure: No positions in the securities mentioned.

***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security...trade at your own risk...my positions my change at any time without notice***