We’re long Gold and Silver Etf’s ( GLD & SLV) against our short Aussie. I would need to see the Silver back above 38.25 in the futures to hold onto this leg. There is massive selling of the Euro and buying of the Gold at present. So I like the Gold leg however I think it’s time to sell the SLV @ the market! It is not getting a bid off the currency spreads. We will stick with the low volatility Metal ,Long Gold…GLD for the time being.

We are short the S&P and the trailing stop will be lowered to 1356 close.

The Aussie is holding near term daily support and we will keep the stop at break even for now.