Dow short pays off our patience. 12,400 looks like a massive double top on the charts.
We took profits on Friday. Now I am going to just lower buy stops every time we break 50 points. I am not sure if 12,000 will hold, or if we break down to 11,600-11,500 level. 12,054 is the first support, 11,950 is the second, 11,842 is the third. cover shorts at those levels.
Gold did not reach the target yet to sell at 1500 today’s high tick was 1498.60. close enough for horse shoes? However, its nice to still be long a small amount from 45 bucks lower… I think 1500 is a sell the first time up. Exit remaining longs there and try to flip short. As always, have a protective stop in place.
New crop CZ is leading the way as we start with the weather market of 2011.. Continue to buy dips in CZ.
That is all for now.
CER
