Thursday, May 12, 2011

5/12 8:45am

I'm breathing easier this morning.  Getting out of silver was liberating.  Even though it took almost $7 profit I was anxious while I was in.  In yesterday's 2:15 post was a daily chart and an expectation of 32.20 for the low.  Actual July low was 32.30 and I exited at 32.40 on a completed 5 down count.
So far, silver has made my year.
The stock market tracked oil, metals, and the entire commodity complex last night.  DJ futures finally broke their hourly M/A on a closing basis to confirm DJI cash critical M/A break last week.  Today the commodities recover from their overnight lows, along with stocks.  I'm not in a hurry to increase shorts today.  Currently 4% SDS, 1% TWM, 1% QID, 1% UCPIX, and 1% SOPIX.  The raw I1 tops 5/13-5/16 but has been running an 8-day lead since the Japan quake.  However, this last I1 bottom coincided with the stock bottom last Thursday, so if the market recovers with commodities today and registers a top Friday or preferably Monday then I'll know that I1 and the stock market have re-synchronized. 

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