Position: None
Well, EEM did not get back into the little trading range it broke down from but I bailed on this one intraday Friday. Sometimes you just know that it doesn't feel right. In this case there was zero follow through selling even though there was every excuse for there to be. The overbought condition in the markets has been neutralized in my opinion and now I think we could easily rally through the end of the year. I am closely watching gold and silver for breakouts to the upside or downside from these trading ranges they are in. I think that these are setting up as good trade possibilities. Patience will be required on my part however. I tend to want to "get in early" in the direction I think a breakout will resolve itself. This strategy worked great on long bonds at the beginning of August, but on the metals, I will be much more careful.
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