No reason at all. I just happend so have this in a watch list I was going through and thought it was worth posting. You're right.

Steve -- I guess I didn't word my post very well, and i did recollect that you had pointed it out last night -- my point was that it was following through as a signal (not giving a signal, my bad) -- and that it was important to note as you had said.

Steve, one of your favorite indicators is giving a signal here

Steve -- I will be the first to second what Searay just said.

CSCO trading down about -3.25% AH

Steve, Matt - what do you make of the relatively well behaved VIX today?

The bear flag that has already broken down measures to about 24.5. The whole group looks weak, and WFC is the weakest in the group.

That's about as bearish a position on Treasuries as I can imagine from the world's biggest bond manager:

The details here

Matt -- Don't worry about us out here -- just enjoy what you're about to be experiencing -- very best to you, your wife, and your new daughter!

I think the projection based on past corrections may well be about right in terms of time -- After vertical declines it almost always takes time to build a new base. As far as the issue of silver being in backwardation, Dan Norcini makes the point that in conditions like this on the COMEX, backwardation doesn't matter because when hedge funds and other leveraged players are getting margin calls, the physical market becomes irrelevant. Over time -- just like your chart suggests -- it will matter again, but not for a while.

Michael -- You make a very good point. I've chosen to go with the multi-entry system, primarily for that reason. I've always been a discretionary trader, and my trading style limits losses in most trades to 5% or less, often much less (and a little more on very low priced stocks). So for me it's a HUGE psychological advantage to trade a system where the expected max drawdown falls in my comfort zone -- less than 5%. I am having to adapt my psychology to following a system, and it helps me a lot as far as making that adaptation.

We'll all remember today after we've made a lot of money on the system over the years and we'll have a good laugh over day one! You know what they say, "As soon as you go live with something, if it can go wrong, it will!" No biggie, but it was exciting :-)

ASCR -- i think you've got it right -- if it's ever this close again, makes sense to wait for a minute or two to verify the true closing price, then execute or not AH.

MATT -- THANKS VERY MUCH FOR YOUR QUICK CLARIFICATION!

Looks to me like anyone who bought it AH in the 70s can kick it out now for a wash, even a small profit :-) I see it 134.89 bid.