There are certain days you can look for directional change,yesterday was one of those days.

The stand out price action was the Euro, Gold, Silver and Spu failing to give this direction up

and not completing the reversal closes. In a world where every trade is pretty much the same trade

via a different instrument the really big hold was the EURO.

It’s the first day of a new qtr and Europe has followed through pressing the current direction

which is up in the Euro,Gold,Silver ( the devaluing dollar scenario) with continued upside in the stocks

fueled by yield chasing in the tech arena.

We tried a 20% hedge yesterday basis the 1145 level in the spu utilizing the SDS ETF for risk control.

keep your stop in place and do not add. I would expect volatility to be increasing over this next week

with potential inflows into equities Monday and Unemployment 10/8. ( Daytrading Paradise)

I do not think you’ll have a clear picture today until after the 9 A.M. CDT data is out of the way.

Short term traders should use yesterdays closes as pivot for price action in pretty much everything.