It appears we should have waited one more day before considering new entries.

The futures were up strongly last night but they rolled over before morning and the markets were choppy at the open. We got just enough of a bounce back to positive territory at 9:45 to trigger the entries into the new positions but then an immediate roll over into a negative position.

Fortunately the decline in the dollar held and the two metals stocks held their gains. Walter was a little weaker because of a smaller dollar impact.

I adjusted the stops just in case the decline continues.

Jim Brown

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