Christopher Carolan, Editor On Time Update 6 June 2005 11:25 AM
PCDI
The PutCall Directional Index (PCDI) has issued it’s fourth signal of the year, a sell. Previous signals have all been good for at least 25 S&P points. Move to short the S&P at the market. Use a 10 point stop basis the June contract.
I’m closing out the profitiable positions in both crude oil and silver. Look to reenter these markets on weakness.
The bond reversal looks real. I will wait for apparent weakness in the daily trend before shorting bonds.
The dollar will be in a confirmed daily downtrend against the yen after today’s close.
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