We sold 70% of our TBT position last week covering our 30 yr. bond shorts.

I’ts time to start scaling back into this position.

Sell the 30 year bonds/ buy the TBT basis a 122 march bond futures print.

The exact TBT price will be difficult to divine since they do not always track.

The technical area I am monitoring in the TBT is 37-36.75. Start with a 30% piece. This is a resting order ( good till canceled)

This trade could be a week early so start with 30% and we’ll look to add.

I’m eyeballing two or three other trades I’ll write about closer to the NYSE

opening.