Jun 12th

9:36 Covered SPY sliver short from 96.
5:30 P.M Covered all SSRI, ZSL etc. Not that the bear trend is over! but we are travelling next week and don't want to lose any profits. The market tape sures seems whippy. Maybe we just keep whipsawing until Jun 22nd. Now that would be fun??

6:00 We have been quite busy the past few weeks with work (and ofcourse we are happy for that :-)).
Would just like to point out our dollar/ PM call which we have the most conviction in and hence our positions. We believe Silver/Gold has started a leg down.
For context, please review this post
Sometimes cycles work beautifully as in this case. There is so much fibonacci symmetry that it is astounding. We believe the time to buy PMs will come in 2010 or in late october when the seasonal rally kicked off by the Indians buying gold ensues.

Gold/silver topped out in Mar 08, oil and other commodities with a lag of 2-3 months. We believe it will true this time too. Oil may go upto 80 or so, but the rise in oil, copper look countertrend at least as of now. Lets say with the lag of 2 months, we may see the bottom fall out of these commodities like oil once again-- August. Oil could very well dip below 30 this time.