EUR/JPY & AUD/JPY…last night’s lows both came down into mvg avg support which held. Closing under those lows will lead to a descent correction. For now it’s just some profit taking and noise coming out of Davos.

USD/JPY…our futures levels and cash levels remain the same. Short term stops remain under 87.70 USD/JPY ( app 114 Futures)

Oil…96.25 will be the near term pivot. Watch for market tone.

Gold…needs over 1700 on the long term P&F charts to get going.
Silver…Holding 32 will keep this price positive in the near term.

General Comments…

The Stock trade has been and will remain in the individual names. We’ve seen this movie repeated before, pick the lucky lady and make 10-15%, while the indices keep grinding higher.

Trade location in the names is everything.

Precious metals….you need to remain patient to trade these. Buying strength is not a good strategy.

FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…) Everything I’ve written for the Month will appear.

Model Trading Portfolio……………..
Stop Close                         Profit Points

Long Gold                                                 1680                               1715
Long ANR                                                                                       11+/ 12.30