5/13 11:25

I am looking for a way to short this market and when I "look for something" I bite too soon.  My initial take on the I1 levelling off was correct.  I don't want to add to short unless:

a)  Tomorrow afternoon  

or

b)  Break of SPX 15-minute, 54-unit M/A

It was a coin-toss the levelling of the I1 but it still increases through tomorrow.  Hopefully this period will be but a choppy, topping process and I can get in at a good price.  The I1 on 5/14 tomorrow is 3.87 and the I1 on top day 5/24 is 4.05.   So the magnitude is only .18. 

Spot silver has rallied past 19.70 to 19.78.  The reason for the trade was the return to long-term tops in gold and silver last December.  The silver forward sentiment gauge does not top until the close today, so shorting at the old highs was premature.