Treasuries gave up almost all of the gains they made yesterday with a disappointing 5-year auction weighing down afternoon prices. The bid-to-cover ratio was a respectable 2.61, but the indirect bid was a paltry 21% (compared to Septembers 55%). There must be a lot of bonds in dealer inventories tonight!

Gold had another good day, finishing at it's highest level since October 31st. We've had quite a bounce in gold over the past 3 days, giving us some breathing room on our stops. Silver was up again, and we are only a couple of good days away from getting long there as well.


Our TNR model booked us $611 in profits on ES, going long in the morning and short again in the afternoon. However, we lost $318 on NQ, getting long 3 contracts at 12:45 and riding it down to our 4:00 exit, for a net gain on the day of $293. We are showing neutral for ES tomorrow, and a trend day for NQ. Our equity curve is still underwater, but we seem to finally be trending in the right direction.


Here is a look at our open positions in System B - our trend following model:

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	$1,682	33
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$5,275	32		@GC.P	3	$4,840	44
@CD.P	0	$0	0		@SI.P	0	$0	0
@C.P	-4	$5,850	61		@HG.P	2	$20,025	112
@W.P	-3	$213	8		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	0	$0	0
@CL.P	0	$0	0		@NQ	0	$0	0
@HO.P	0	$0	0		@YM	0	$0	0
		Total Open Trades			$37,884
		Total Closed Trades			$7,580
		Total			$45,464

That's all for today, good luck and goodnight!