Silver continues to outperform Gold, with the market focused on the possibility of massive Silver stockpiling by firms looking to offer a Silver ETF. Commodities were generally weak across the board today, with some of the blame being pinned on a strengthening US Dollar.

Bond futures had an interesting day, opening down significantly down, and ending up on the day (or unchanged, in the case of our 5-year note position). Could this latest downward flush be over? I hope not!

Our TNR model called for a reversion day in ES, and that is exactly what we saw. We rode the chop from both the long and short side all day, ending with a net gain of $940 on 5 trades. Maybe our model is getting back in synch with the market... let's hope! We are calling for a Trending day in both contracts 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	-4	$2,988	23		@SB.P	3	$8,400	111
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	-$725	21		@GC.P	3	$9,240	122
@CD.P	2	$80	31		@SI.P	1	$5,680	73
@C.P	0	$0	0		@HG.P	2	$7,400	190
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$2,275	73
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$35,338
		Total Closed Trades			-$12,400
		Total			$22,938

Good luck, and have a great evening!