Talk about your “calm before the storm”…a one day tsunami for most sectors, including pms.  But, I’m not ready to pull the plug on my core holdings just yet.  In fact, I actually hope G&S return to test the December lows so that I can really back up the freaking truck.  You have to have that attitude, and most important – that ability – if you are going to survive trading the pm sector, especially on days like today.

In the meantime, trading is always about making adjustments on the fly – re-evaluating, and reconsidering the current environment.  With this in mind, it is possible that the worst of the present “pullback” is already over, if the H&S formation proposed below turns out to be valid…

Of course, there are still many lower range gaps that will fill if the December low is indeed tested – so keep some powder dry!  🙂