Equities markets seemed to be on hold today, with traders waiting to take positions after the FOMC announcement tomorrow. In other news, Iran took a step back from the brink, sending a letter to President George Bush that reportedly outlined some possible solutions to the current impasse. The oil complex sold off on the news, but managed to claw its way substantially back by the end of the day.

Cotton and Sugar seem to be in a holding pattern, and bonds of course will be waiting to see what the FOMC has in store for us tomorrow.

Our TNR model called for a Reversion day in ES and a Trending day in NQ. We managed to make a little on two ES trades, and lost a small amount on our NQ long, for a net total gain on the day of $343. Tomorrow we are calling for a Trending day in both contracts.

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	$144	9		@KC.P	0	$0	0
@FV.P	-4	$6,300	66		@SB.P	3	$8,635	154
@EC.P	0	$0	0		@CT.P	0	$4,435	18
@JY.P	0	$0	0		@GC.P	3	$45,360	165
@CD.P	3	$5,350	13		@SI.P	1	$23,360	116
@C.P	0	$0	0		@HG.P	2	$75,075	233
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$6,225	116
@CL.P	1	-$2,580	15		@YM	3	$5,425	38
@HO.P	1	-$192	19		@NQ	0	$0	0
		Total Open Trades			$177,537
		Total Closed Trades			-$29,903
		Total			$147,634

Good luck, and have a great evening.