Wednesday, May 11, 2011

5/11 3:00

Last week's decline broke the DJI critical M/A, confirming the decline.  However, DJ futures only marginally broke their hourly M/A and closed the hour almost back up to it.  Therefore, I withheld an all-out confirmation until DJ futures decisively broke. This is .85% below the 270-hour M/A, which it traded below but has not yet had an hourly close below. 

Sold 3% SDS at 20.34, 2% QID at 48.72, and 2% TWM at 41.59.  If and when I get a DJ futures confirmation I'll go more short.  Today is the adjusted lead bottom date and being near a critical confirmation level I'll choose the way of discretion.  I'll reserve the valor for the silver futures short.

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