Yesterday all my positions were stopped loss. It's good since today market down about 2%. Now I've got new opportunities to trade. However, I missed big drop of GLD and SLV yesterday. Especially SLV, 10% drop, not easy to see such good chance in the future. I still don't understand what caused the drop. Maybe suddenly strong dollar is the reason. Today both GLD and SLV bounce back.
BDI down 192 to 3025. According an analyst, the reason is that the expected recover in commordity demanding in China after Olympic didn't happen becuase Chinses Gov boycott Brazil iron ore. Brazil suppliers hike the price by 11%. But when chinese iron ore inventory run off, the dry shipping will pick up. Also given current tight credit market, new ships are less likely which will keep demand high. I kind of agree with him. He also mentioned that BDI may drop even furthure and predit recovery in Nov. I need to follow this closely and try not miss the opportunity.
