30 Yr. Bonds…we’re close enough to our tgt area, trading in the 139’s, to consider taking some profits. The mid 139’s should bounce the first time down.  We remain in sell the rally mode to anything around 142.07 with a very tight stop.

TBT…70.05 is the tgt for this swing. This # will act just like 66 did for the past couple of weeks. It will be a resistance area with the first close above being a possible Bull Trap.

Closes above 70 will lead to 85 in the TBT, hence I’m reticent but to just keep selling any good rally in the 30 Yr.

Equity Indices…we witnessed a day and a half computer driven air rally. They are very close to breaking down. The only question is whether this will put a bid into the Bonds.

Oil…resting sell stops are @ 93.25. Only a close over 92.15 is price positive. These levels
will not change.

General Comments or Valuable Insight

Many of you are long single stocks. Now would be a good time to review your stops to avoid giving back too much of your gains this year.

Rising rates have kept a firm tone to the Banks. Review your stops here as well.

Given it’s the mid-week shuffle with month end on Friday, volatility should remain high.

Note…we always write a stop with any instrument we‘re interested in. As the instruments become profitable those stops should be raised to your entry level so you don’t lose money.

Short Term View…

Use the Chicago openings to help guide your trading.

Use the 4/30/13 closes for your short term pivots in everything!