EUR/CHF failed to get close to the big short term buy stops yesterday above 123.20 Straight USD/CHF needs all new strength over 85.50 for more Swiss weakness. Translation be wary of selling weakness at these levels in the Euro and Pound. Why, because Swiss weakness is what looks most probable, and the Suisse has the most to correct once it gets going. If and when a serious correction starts we’ll have to pay attention to possible short term knock on effect via the metals.

The stock indices look to be a big day trade back and forth today. I.E. No selling weakness….No buying strength.

MODEL TRADING PORTFOLIO…CURRENT HOLDINGS

LONG TERM HORIZON….

Long GLD,SLV,

Long JJG….50% position

Long Corn via the ETF… 30% of original position

SHORT/MEDIUM TERM HORIZON

Short S&P 500 Futures or Long SDS …30% of original position