Tuesday, November 1, 2011

Cover/hold confirmed.

3:45pm: The 2nd consecutive cover signal is confirmed. Although obviously since the system is out of the market, it's as good as a hold which keeps it on the sidelines. It's predicting higher prices ahead, though too much risk to go long right now. See ya tomorrow.

1pm: While yesterday we saw a borderline cover signal, today's is quite strong. This may be a warning that higher prices are to follow in the short term. If there are any outstanding shorts out there, you may want to strongly consider taking some profits here.

Once again there will be no buy signal today.

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