3/5 Daily Commentary

Today is peak I1 day.  I have been completely out of any stock market exposure waiting for this event.  This should be one of the greatest opportunites of our lifetimes.  On I1 turn days I like to look for old highs/lows being tested by various indices.  The Nasdaq Composite provided a perfect setup, with the January high at 2326.  The conditional order buying QID at Composite >= 2326 got me in within a point of the top.  Monday should be the start of a sustained decline, that accelerates as the year progresses.  The forecast for turn dates in 2010 is contained in the 2010 Forecast.
The current wave count:

Bought the following near the close:
Got filled buying full position QID at 18.10.
Got filled buying full position SDS at 32.83.
Got filled buying 1/4 position SKF at 21.31.
Re-entered the silver short 8 ticks lower:
Got filled buying 1.5% (1/2) position ZSL at 4.22 to short silver.
Silver has had a very positive correlation with the stock market, which is why I stepped aside this morning and allowed stocks to rally.  Silver rallied, but not nearly to the extent as stock market.