Just a quick note this morning.
Got stopped on another 100 TBT. Tightened my stops some more on another chunk. Reading from Miller-Tabak that the big note auction was well-received yesterday. Geithner didn't inspire a lot of confidence either. Yields on most of the notes are in a triangle here.
I keep trying to pay my price on some gold. Got hit on some NXG, put in an outrageous bid at 1.24 and got hit on another 1500. Also got hit on another round of GBG at 1.41. Gold looks strong into the open here, so maybe flipping some of that.
Triangle in the Dow looking ominous and it's the most bullish index. It measures to 4200 by my read. Got a bid out on some DXD into what looks like some opening strength.
So, position is basically long gold over short commercial real estate, long bonds and the Dow. Bonds are probably going to kill me today, gold looks like it's going to work.
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