Monday, December 6, 2010

12/6 Daily Commentary

Commodities stayed up through the I1 peak day instead of peaking early.  My forward sentiment gauge for precious metals, PM1, tells why I'm shorting them.
I got stopped out of a 1% silver futures short at 30.051 and gold at 1421.1.  I re-entered the shorts at 30.165 and 1424.   The fact that I1 is now declining as well as PM1 means that I need to stay short as best I can. I bought SDS 4% at 25.26 at the close.  In addition I'm bullish the dollar until Euro rallies beyond 134.40.
I'll update more detail in the pre-open.
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2 comments:

  1. pimaCanyonDecember 6, 2010 at 7:56 PM

    Thanks for the PM1 sentiment graph, Steve. Does it stay down into 2011?

    I believe your silver stop price and re-entry price was 30.051 and 30.165. (not 35).

    ReplyDelete
  2. AnonymousDecember 7, 2010 at 5:56 AM

    ES
    Buckle up.
    http://99ercharts.blogspot.com/2010/12/es_07.html

    ReplyDelete

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