We are issuing a general alert of possible trend change. We have exited several of our positions in anticipation of a general trend reversal expected, and that seems to have arrived. While we in general do not like to reverse position based on lack of signals and or stop loss triggers, we have tightened some stop losses on key markets (i.e. gold, silver, oil) because the data we receive anticipated this event.

We fully expect a number of our positions to register sell warnings by the end of this week. Looking at the short term indicators we see there are already multiple sell signals that should predicate a weekly sell signal evolving.

Again you can continue holding positions until an official signal is triggered, or a stop loss results, but based on our data it would be prudent to either exit positions or tighten up stops to preserve gains. As you can see by this weekends summary many of our positions have resulted in rather large gains this spring. If you made money, you can do no wrong in sitting on the sidelines and watching this pattern evolve.

From an Elliotwave perspective both gold and silver have fufilled their patterns and are now technically (unless we get a major reversal) in a new wave done that may be severe. Oil sailed past it's 65 dollar target and we expect it to go south for a while.

We will monitor the situation closely but when the odds are not in your favor - better be safe.

Have a good night. We'll be reviewing everything in depth this weekend.

As a side note the DBA buy signal is in place still. We took a 1/2 position in it. If we get a sell warning we will exit either by a stop loss trigger via smartstops or until the candlestick signal is confirmed.