We’d like to thank John Thomas, “The MAD HEDGE FUND TRADER”, for an insightful and entertaining luncheon at his Chicago event, it’s always a pleasure!

Lemming Effect Trading…yesterday was more of the same…we sent out the Swiss and EUR/CHF charts to warn against pressing direction. Voila’, another trap for the Euro bears. The most I was looking for on the cross for a rebound was the 117.75 level. EUR/CHF doesn’t have to get there. For now this correction in the cross has done little to dent the enthusiasm for Gold & Silver.

Canada…96.33 USD/CAD held and we will raise our ETF stops on the Long  FXC to 103.10 intraday.

AAPL…smelling the traps…yesterday we pointed out that AAPL was in focus, however I didn’t think it would rally 8 dollars. This a.m. it’s up again in pre-market to DR. Nenner’s tgt of 378. Again, the big cap tech stocks have been running the show. Pay attention to this level for possible price rejection and it’s effect on the indices.

Model Trading Portfolio…Current Holdings

Long FXC… ETF

We have no cash or futures position in Canada or USD/CAD