8:30 a.m Initial weakness on our turndate week. More interestingly, the markets which had been leading us and soaring - $hsi (hang seng), $bse(sensex) got obliterated. Profit taking/shorting is beginning to kick in.
10:10 a.m. Covered some portion of the SPY sliver from 95 at 93.45, though we expect a lot more weakness into June 22 cycle low. Also covered some SSRI and some ZSL (L)
10:35 a.m. covered some of our DRR position (Euro short = dollar long)
3:20 p.m The late afternoon rally. Buying money on the sidelines has still not abated. Buy there are sellers who are willing (as witnessed in the morning). Our decision to cover some of the SPY shorts in the morning looks good now. We'll reload SPY sliver shorts at 95, should it get there. On a side note, what material use is it to blame the PPT?
4.00 P.M Added SPY sliver short @95.
6:10 P.M Ugly candle on the dollar for the bulls. Ugly candle on SLV and some of the PM stocks for the bears. It means there may be another push lower in the dollar and another push higher in stocks/PM. We will give the rally until the end of this week.
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