Let the day set up. Most traders are worn out from the recent moves. It’s been a scalpers paradise.

I have been inundated with e-mails from long term investors wishing to initiate new buy and hold positions.  As of now, everything seems to be a short term trade. This casino environment is likely to last well into August.

The metals are of particular interest today. Yesterday’s highs were great highs for a re-trace to set up from. Now it becomes a game of where the Gold and Silver hold.

In short…more technical short term trading.