The MIB fell during the session as the 15,500 level was tested for support. We are currently in the middle of a larger consolidation area, so we aren’t necessarily pressed to be in this market one way or the other. Also, we are not big fans of being long of the periphery in Europe right now, and as such we are more than willing to be on the sidelines.
If we fall, we think that the 15,000 level should offer support. If that level gives way to the sellers, we think this market will come undone at that point. However, we think that the on the 15000 giving way is a bit remote.