Tuesday 03-21-2006: I will be on vacation the first two weeks in April. As the DOW was testing 5 year highs, it and other indexes failed badly. This should be the start of a serious break to lower levels for weeks. I do not expect it to be the beginning of a long term bear move, but it is VERY profound. Any close in the next several days above today's highs would prove me wrong and I WILL turn bullish if that happens. THIS KIND OF BEARISH KEY REVERSAL AT MAJOR RESISTANCE LEVELS HAPPENS VERY RARELY.
Interest Rate Futures
Tuesday 03-21-2006: These contracts reversed and pushed me out of long positions. On the average some profits, some losses. No damage done.
Currencies and FOREX
Tuesday 03-21-2006: The Dollar did rally today like I expected and should rally more.
Energy
Tuesday 03-21-2006: The Natural Gas may be forming a small one month head and shoulder bottom.
The last week of August 2005 could mark a long term top in energies.
Metals
Tuesday 03-21-2006: Silver took off like a bullet by itself. This outside trading range day in overbought conditions may be a bearish reversal. I have placed new short orders.
(Summer 05) Silver and Gold are developing long term trading ranges, which implies when they break out, there should be a big move. (10-17) Several days ago Gold and Silver seemed to have started that possible major bullish break out process.
Meats
Tuesday 03-21-2006: Feeder Cattle produced good results. Small damage in Live Cattle, but new long buy stops have been placed. Small good results in Hogs and new long orders have been placed.
Grains
Tuesday 03-21-2006: I am now long the Corn and looking to get long the other grain contracts on strength.
Softs / Exotics
Tuesday 03-21-2006: Our new long Sugar is OK. We placed a new long buy stop in Cotton. The new long in Coffee is ok. Cocoa almost stopped me out.
Disclaimer
There is a substantial risk of loss involved with trading futures and options.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also since the transactions have not actually been executed, the results may have under or over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general are also subject to the fact they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
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