With today's surge in the metals, we finished another week on a strong note. It seems that the continued dollar weakness is turning around the precious metals markets.


Despite Bernanke's congressional testimony, I don't see how the Fed will be able to stop raising interest rates for any prolonged period. Commodity inflation seems to be quite entrenched right now, with even the grains starting to show signs of stirring from the doldrums they have been in.


We exited our Soybean position on the close today, covering 2 contracts at the close. That position will be reflected in Monday's reports.


Our TNR model was calling for a reversion day in both contracts, and that is what we saw in NQ. Our ES position was stopped out on the morning rally. Net gains on the day were $1010 for NQ and a loss of -$532 in ES, for a Net total gain of $478.

Our 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	-2	-$638	3		@KC.P	0	$0	0
@FV.P	-4	$4,925	60		@SB.P	3	$9,240	148
@EC.P	0	$0	0		@CT.P	0	$3,265	12
@JY.P	0	$0	0		@GC.P	3	$37,740	159
@CD.P	3	$3,640	7		@SI.P	1	$22,060	110
@C.P	0	$0	0		@HG.P	2	$66,775	227
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	-2	-$2,275	18		@ES	2	$5,100	110
@CL.P	1	-$470	9		@YM	3	$1,345	31
@HO.P	1	$2,261	13		@NQ	3	-$2,375	16
		Total Open Trades			$150,594
		Total Closed Trades			-$23,758
		Total			$126,836

Good luck, and have a fantastic weekend!