have put some money in the bank this morning. I have sold quite a few JJJs, KKKs and MMMs. Only have two JJJs and two MMMs left.

From the noon reports the model projects that the component on today's kill will drop between -0.80 and -1.10. My take on this is the today's bounce is technical/emotional except for the GGGs. Traders have beaten the GGGs down too low and its bounce is based on solid fundamentals. The model projects that the cash settlement index is going to be 61.93 with range of 61.43 to 62.43.

I have orders working to buy more GGGs on a dip which is not likely.

Best wishes,

dhm