I warned that there could be another takedown after the FOMC meeting before a final bottom. We recognized the premarket attack this morning and exited with a modest profit. The SMT metal portfolio is within a couple percentage points of it’s all-time high, +375% over the last 2 1/2 years.

Now we’ll wait for the next setup to try again. Nothing has changed. Intermediate cycle lows are the best buying opportunities of the year. If you can catch one just right you can make a ton of money in a short period of time.