Pent-up demand and short covering brought the market right back into shape today, with a strong, broad based rally throughout the afternoon. It appears that Wilma, the REFCO scandal, bird flu, and inflation fears have created the "wall of worry" this market needed to rally.

Easing oil prices probably helped the equities markets, with crude off $1.04. Natural gas bucked the general energy trend, rising marginally on the day. The metals also slid substantially, with gold closing at its lowest level since September 26th.

With all the talk of "Hindinberg omens", October crashes, and the aforementioned troubles bothering market participants, a short covering rally seems almost obvious (in retrospect). Let's see what happens over the next several days.

The TNR model was indicating trend day for NQ today, but we were whipsawed us out of our trades before the trend really kicked in. We went short 3 contracts at 9:50 @1535.50, hit our stop loss at 10:10 @1544.00, got long 3 contracts at 10:15 @1542.50, reversed short at 11:30 @1540, and exited with our 3rd loss on the day at 12:30 @ 1545. After 3 losses on any given day, the model stops trading, and hence we missed the big move... net losses on the day were $1010.00... oh well, tomorrow is another day.

The TNR model is indicating a Reversion day tomorrow for both ES and NQ - lets see if we can get some of that back.

Finally, we are still short the Oct SPY straddles, which moved in our direction nicely today. The straddle was offered at 1.25 at the 4:00 close.

Good luck, and good night!

Contract	ctrcts	Open P/L	days on		Contract	ctrcts	Open P/L	days on
@US.P	0	$0	0		@NG.P	0	$0	0
@TY.P	0	$0	0		@KC.P	0	$0	0
@FV.P	0	$0	0		@SB.P	3	$3,462	18
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$2,950	17		@GC.P	3	$4,330	29
@CD.P	2	$3,240	47		@SI.P	0	$0	0
@C.P	-4	$4,550	46		@HG.P	2	$18,750	97
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	0	$0	0
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	1	$7,927	77		@NQ	0	$0	0
			Total		$45,209