Is some sanity returning to the precious metals? Today's price action certainly looks like some people took a deep breath over the weekend and decided enough is enough.

Virtually all of our positions (with the exception of cotton and the Dow) were down today. Energy sold off pretty hard as well, and perhaps this is the begining of a new trend down. We'll see if tomorrow brings any follow-through selling, or if the "but the dips" mentality takes over.

Our TNR model called for a Reversion day, and we lost -$1090 on two trades (one ES and one NQ). We are again calling for a reversion day tomorrow 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	$644	14		@KC.P	0	$0	0
@FV.P	-4	$6,675	71		@SB.P	3	$8,366	159
@EC.P	0	$0	0		@CT.P	0	$3,445	23
@JY.P	0	$0	0		@GC.P	3	$46,890	170
@CD.P	3	$4,840	18		@SI.P	1	$21,185	121
@C.P	0	$0	0		@HG.P	2	$87,325	238
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$0	0
@CL.P	1	-$2,940	20		@YM	3	$3,055	42
@HO.P	1	-$591	24		@NQ	0	$0	0
		Total Open Trades			$178,895
		Total Closed Trades			-$27,128
		Total			$151,767

Good luck and have a great evening!