Wednesday, April 6, 2011

4/6 Daily Commentary

I'm flat all markets, waiting for the 18th.  The stock market looks like a 5th wave will be in progress until the 18th but I'm not trading it.  Frankly, I want to save my emotional powder for the short side.

I've been reviewing potential markets to trade.  Silver has an up sentiment gauge, the PM1, but the wave count looks like a completed 5 up so I don't want to buy that.  A major top in precious metals is due at the end of April, but an up cycle first.

Bonds and the dollar are not desirable, assuming that a stock market decline begins mid-April or April 26.  I posted this today Bonds and Dollar.

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