12:02 am. stopped VXX short. -.05. Stopped out remainder of QQQ and SPY calls for loss. Until the TLT finishes rallying, the indices are going to have a hard time moving up. Overall a good day on the mining stocks.

11:49 am. PST. re-shorted VXX but with a smaller position.

11:37 am. PST. Stopped out VXX short, covered for +.20. Will look to re-enter. GDX has one more high in the works as well as TLT, which means SPY and UUP one more low.

10:05 am PST. XLF’s rally to 23.79 was a really short wave v. I think XLF probably has to tag $23-22.90 to complete another wave iv of some degree. I do not think the rally is over, and I think we will see new highs in XLF after this retrace.

I stopped out of FCX for break even. Goldman Sachs is lined up to buy FCX at 14.75 and I wonder if we might just go there. Everything is trading in a really tight range this lunch hour.