Tuesday, January 4, 2011

1/4 1:00

I exited short stocks at SP futures 1258.25.  I had no idea that would be the low.  The SP futures 30-minute M/A - .5% on a 30-minute close is the first threshold sell signal.  That works out to any 30-minute close below 1257.50.  I exited shorts because the lower envelope was being approached and the DJI 5-minute, 370-minute M/A was being approached at the same time.  The lower envelope for this M/A is any trade below 11,469.
Silver and gold are cracking wide open.  Staying short both.
Dennis posted a comment that $37 USO is a good target for the crude decline.  It is finishing up it's 3rd down now.  I'm holding SCO.

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