Silver, Sugar and Equities were our big performers today. Silver has caught quite a bid over the past week or so, as many people seem to be awakening to the fact that production is actually lower than commercial consumption, so the amount of above ground silver is shrinking.

Let me say that again... unlike Gold, the amount of above ground Silver is shrinking every year. So regardless of your views on Silver as a precious metal/store of value, there is a basic supply/demand story that greatly favors Silver over Gold.

Our TNR model called for a Reversion day in ES today, and that is basically what we saw. We put on 4 trades, two winners and two losers, for a net gain of $122 on the day. Tomorrow we are calling for a Neutral day in both ES and NQ.

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	$12,768	84
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	0	$0	0		@GC.P	3	$12,300	95
@CD.P	2	$240	4		@SI.P	1	$3,575	46
@C.P	0	$0	0		@HG.P	2	$7,975	163
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$2,275	45
@CL.P	1	-$190	6		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	2	$1,580	30
		Total Open Trades			$40,523
		Total Closed Trades			-$8,440
		Total			$32,083

Good luck, and have a great evening!