Morning Update: 1/3/2012

Hello Traders:

11:33 pm…

Good morning… as I write this update the ES is making highs of 1280.25.  We currently are holding three positions. GC, ES, and YI all of which are  positive this morning. GC we had an entry of $1575 with a retest on a balance extreme. ES was a swing trade from a couple of weeks ago with an entry at the 1201 level. Finally, YI was an entry of $26.89 on a balance extreme play. As the new year begins we are looking to hold these positions until the trades are invalidated.  Will look for a directional move within the next several days that should provide a clearer picture as to the markets intent,. until then we stay disciplined and focus on our 2012 game plan.

Trade Well,

Olof Thomas


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