Friday, December 3, 2010

12/3 2:50

Crude shows a stronger correlation with the stock market than the dollar.  A new high in crude and a weekend ahead caused me to sell the SCO at 10.68.
As far as the dollar is concerned the Euro rallying beyond 134.50 will violate it's wave 1 low and invalidate long dollar trade. Until then I want some exposure to dollar via UUP.  Order in selling back DX futures 79.64.
I think silver and gold have 1 more rally to a minor new high.  I covered silver futures 29.205.

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