30 Yr. Bonds…Per our M.O. we took the bulk of our money on our short Bond ( Long TBT ) a day early…the short term pattern shows a nice daily double bottom. The high 121’s to the low 122’s should provide the next low risk selling opportunity. It is not advisable to get in the way of this oversold beast until the better retrace levels are achieved. For very long term investors we are still in the mode of selling the multi point rallies in the bonds for the next qtr.

Spu…The March spu has to show sustained price action over 1244 to entertain any new longs..