I’ll say it now and get it out of the way, that was the shortest long term trade I’ve done in a long time ( JJG). Now new business..

We added to our core long precious metals holdings yesterday. Obviously the whole board is screaming Risk Off again this a.m., with the metals holding up on a relative basis.

Last week we spoke about how difficult it would be to trade going into the end of this qtr.,particularly for the longer time horizon trader. What’s in vogue during one time frame is thrown out with the bath water the next.

Day Traders should be continually trying to center themselves on where the market is. I.E. …141.59 is unchanged on the qtr. in the Euro, 160.30 GBP/USD, 85.87 AUD/JPY… Oil is flirting with the 200 day again this a.m.

I expect that this time frame trade will continue into the end of the qtr. In other words you should be booking your profits when you have them.

MODEL TRADING PORTFOLIO…CURRENT HOLDINGS

LONG TERM HORIZON….

Long GLD,SLV,

SHORT/MEDIUM TERM HORIZON