Another mixed performance by System B today, with strength in the Grains and weakness in Gold, Silver and Equities. We are closing out the month of November with some very solid gains, increasing our account equity by roughly $32K. Some of our positions are looking somewhat toppy (or at least to be in a consolidating phase) right now. Let's hope for a few more weeks of solid gains before the Holiday Season doldrums take over.

In other news, our TNR model indicated a trending day for today, and we wound up with a decent trend day down. We originally went long 2 contracts this morning, but reversed short at 10:10 for an early loss. However, we rode our short all the way down to our 4:00 exit for a total net gain on the day of $486.

This brings our day trading equity position back into positive territory for the first time since I began posting these trades. We closed on October 31 with a -$2834 account equity, and we are closing tonight with a +$469. So, for the month of November, we increased our TNR account equity by $3303.

For tomorrow, ES has set up as a reversion day, and NQ has set up as a trending day. We have had mixed results in the past when the indicators for each market are at odds, it will be interesting to see how things develop.

Our positions:

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	$5,814	46
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$7,500	45		@GC.P	3	$12,880	57
@CD.P	0	$0	0		@SI.P	1	$1,170	8
@C.P	-4	$7,400	75		@HG.P	2	$31,200	125
@W.P	-3	$1,788	22		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$0	7
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$67,752
		Total Closed Trades			$7,580
		Total			$75,332

Good luck, and good night.

The grains had a mixed showing today, with corn and soybeans down and wheat clawing back above the $3.00 level. With virtually all of the U.S. harvest complete, attention being focused on the South American crop and the U.S. winter wheat crop. There has been some good moisture over the past several days in Brazil and Argentina, and more is expected over the next few days as well. In addition, the recent rain and snows in the middle part of the U.S. should prove to be beneficial to the U.S. winter wheat crop. All of this is of course bearish for the grain markets, at least in the short to intermediate term.

System B turned in a mixed performance, finishing down on the day due primarily to the big sell-off in Copper. Could this mark the beginning of the end of Copper's latest bull move? Our stop right now is at 1.7205 on the March contract. We should still be a few days away from that level (I hope!).



Our TNR daytrade model posted a decent performance today, with both ES and NQ being traded as reversion days. NQ was clearly the better performer, with multiple trades taken. I've posted today's NQ chart showing the trades (blue arrow is a long entry, red arrow a short entry). Net on the day we cleared $920 total in both contracts.




Our positions:

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	$5,882	45
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$7,263	44		@GC.P	3	$15,640	56
@CD.P	0	$0	0		@SI.P	1	$1,815	7
@C.P	-4	$7,650	74		@HG.P	2	$24,025	124
@W.P	-3	$2,388	21		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$700	6
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$65,362
		Total Closed Trades			$7,580
		Total			$72,942

Good luck and good night!

We had a big day today, thanks primarily to big moves in the metals. Gold, Silver and Copper all set new contract highs by a substantial amount today, as did Sugar (obviously not a metal...). The dollar traced out a reversal, opening higher on the day vs. both the Yen and the Euro, and finishing below Friday's highs. The Euro wound up closing at it's highest level in over 3 weeks, and at one point traded above the psychologically important 119.00 level.

Our System B Model is having an outstanding month. On October 31, we marked the portfolio at $37,538 in open equity and $6,100 in closed equity for a total equity position of $43,638. As of today's close, our combined equity position for System B is $75,822. That is a gain of $32,184 for the month to date, and represents a better than 16% return on our notional $200,000 capital base (this is just in the month of November!). Of course, profits aren't profits until the trade is closed out, but let's hope we hold on to at least some of these gains.

Our daytrading model is indicating a reversion day in both ES and NQ tomorrow.

Our positions:

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	$5,882	44
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$6,413	43		@GC.P	3	$14,080	55
@CD.P	0	$0	0		@SI.P	1	$1,555	6
@C.P	-4	$7,350	73		@HG.P	2	$29,250	123
@W.P	-3	$2,838	20		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$875	5
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$68,242
		Total Closed Trades			$7,580
		Total			$75,822

Good luck, and good night!

Well, we managed to eke out a small gain on the day, although about half of the markets we trade were closed for the post-Thanksgiving holiday. The biggest mover was probably our short position in Yen, which slid about .50 yen in today's trading. Monday should bring more normal market conditions.

Our TNR model indicated a reversion day in ES today. We wound up taking two trades, shorting at 1270.00, right around the open, and going long at 1267.75 at 10:30. Our net gain on the day was $354. This, however, does not offset our NQ losses from Wednesday, and our TNR model is still underwater from when we began posting in October. On the right is a chart of our equity position in the TNR model.

Open Positions:

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	$4,874	43
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$7,313	42		@GC.P	3	$12,280	54
@CD.P	0	$0	0		@SI.P	1	$440	5
@C.P	-4	$6,950	72		@HG.P	2	$26,875	122
@W.P	-3	$2,913	19		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$1,775	4
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$63,419
		Total Closed Trades			$7,580
		Total			$70,999

Good night, and have a great weekend!

All of our pit traded positions closed at 1:00 today, so we are posting early to get a jump on the Thanksgiving holiday. Our equity index futures positions are still active, so we will post those as of 2:30 today, and update them on Friday.

Copper and Sugar led the way to the upside today. Both contracts reversed yesterday's losses, with sugar posting a new closing high. The grains again showed weakness, and our ES position is showing a strong gain as we write this commentary at 2:30 (we are marking ES at 1272.50).

Our TNR model indicated a reversion day for NQ today, which isn't exactly what we saw. We sold 3 contracts right out of the chute this morning at 9:35, and were stopped out at 2:30 for a $558 loss.

Our positions:

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	$4,874	43
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$6,525	41		@GC.P	3	$12,280	54
@CD.P	0	$0	0		@SI.P	1	$440	5
@C.P	-4	$6,750	71		@HG.P	2	$26,875	122
@W.P	-3	$2,913	18		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$1,900	3
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$62,556
		Total Closed Trades			$7,580
		Total			$70,136

That is all for today - have a wonderful Thanksgiving!