Things looked a little better from our perspective today, with the metals finding some kind of support and rebounding. Gold finished the day back above $500/oz, which should count for something. The equity indexes also rebounded nicely, and Sugar yet again set a new contract high.

Our biggest worry right now is the grains, which certainly do appear to have formed a bottom over the past month. we are getting close to hitting our stops in both Wheat and Corn, and unless some new weakness enters the market, we may be exiting those trades within the next two weeks or so.

The TNR model was neutral for today, but is indicating a trending day tomorrow for ES.

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	$12,770	62
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	$4,813	61		@GC.P	3	$14,770	73
@CD.P	2	-$1,420	13		@SI.P	1	$2,135	24
@C.P	-4	$5,200	91		@HG.P	2	$36,175	141
@W.P	-3	$288	38		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$1,575	23
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	2	-$860	8
		Total Open Trades			$75,445
		Total Closed Trades			$7,580
		Total			$83,025

Good evening, and good luck!