Thursday, February 3, 2011

2/3 Daily Commentary

I audited and corrected the Trade History.  There were a few inaccuracies that crept in with so many trips to Albuquerque, working off of the laptop.  The return since last March is 28%.
Had a really good day.  Came in long DX futures from 77.18, sold at 77.80.  Sold EUO at 19.40.
Came in long 4% SSO.  Bought 2% more on decline to critical support M/A, sold all at 51.93.
I exited ZSL on the new low at 10.93.  I'm still bearish silver but gold looks good to 1375 which is $20 higher from here. 
I currently hold no positions, ETFs or futures, ahead of the jobs report tomorrow morning.
The Nasdaq counts best as a double-zigzag up from this morning's low and a zigzag up from yesterday's low and has not made a new high.    SPX, DJI, and XMI all ticked new highs.  SPX nominal high 1308.58 was exceeded by just 2 ticks.  With the stock market completing wave counts up the logical expectation is a negative trend overnight and after the report.  However, with I1 rising I am taking no stock shorts.


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