Gold….We’re going to give this a full 20 dollars since we’re looking to make almost 400.
I like that risk reward. The stop is under 1747 close in the futures….. app 169.85 in the GLD ETF.

Silver…last night’s low needs to hold around 33.30

We will be using a 4 P.M. NYC close, same time as the NYSE.
If per chance we get stopped out, we will be looking to buy again 50 dollars lower.

I want to see the metals hold today going into tomorrow.

OIL…This is trading in it’s own world with 97.20-30 continually capping rallies. Closes are needed
over this level for more upside. 94.65 last months high ( which was an outside reversal higher month)
has been near term support.

Dr. Nenner had a breakdown in the EUR/JPY Cross on a close below 106. Yesterday we closed
below that level, with a retest of the breakdown level with last night’s of 105.92. Euro Bears! Keep a weather eye on this cross.
Why? ..you can sell Euro rallies based off the cross @ the 106 level with a tight stop.

EUR/JPY starts closing back over 106 you’re wrong.

Short term traders…trade what you see, take your money when you get it, and don’t have an opinion.
The entire board is a massive time frame price action scalp.

Model Trading Portfolio…Current Holdings
Long SSO
Long TBT
Long S&P 500 Futures/Short 30 Yr. Bond Futures.
Long Gold Futures/ and or/ GLD
All stops are as previously stated.

All trades have been paid for. Meaning, we’ve taken partial profits. Whether or not we get stopped out,
we still make money.

We’re very small in the SPU/BOND trade. In fact this is one of our smallest positions all year.
Our view is that the rest of the year will be a high volatility, highly technical, rumor driven, Time Frame, Lemming Effect Day Trade.
The question is who’s day? Right now it’s Europe’s.

We’ve captured  enough big swings in the overall markets and underlying instruments this year to
sit back, go to all cash, and wait for ripe opportunities if we get stopped out.

Medium Term View…
Our medium term view is that the Equity markets have put in a bottom for the next few months at 1070 SPU. We want to see the S&P 500 Futures hold this 1206 ish level on a closing basis or we will reevaluate our view.

Metals…we’re looking for strength through year end.

30 Yr. Bonds …I’m treating 147 as the high for a long time. 143.10 now becomes our upside pivot. Closing above this level
will be short term positive the Bonds and negative the equities.