Day Summary

We finally got a follow thru day confirming the last weeks short term bottom. As I mentioned on thursday I went long Q's on Friday though yesterday was a sweaty day but since Q's didnt close below last thursdays low( which was my stop) still holding it. I think we probably have a nice tradable bottom now and I will hold Q's atleast till this week's end. Gold and almost all the currency pairs against dolar got hammered today, dollar rallied and treasuries slipped. But I still think this was just a correction of overbought condidions in treasuries , gold and currencies and corrrection of oversold conditions in dollar. I am still bearish on USD and bullish on gold, yen, euro, swiss francs and 10 yr T-notes. UNG corrected almost 12% in last two days after I sold it on thursday. Now its again getting attractive and I will watch it closely to get in again. Also bought some PGH, its a canadian energy trust with a whopping 14% dividend yield which is paid almost on a monthly basis.