Monday, February 25, 2008

Stock Chop & CRB Index Momo

I really see a lack of buying on these up days. It seems like the only up moves we get are from surprise news events, such as the Ambac news. Treasury Yields seem range bound until Bernanke speaks Wednesday. It would be nice to see interest rates cut again and see an attempt in the treasuries at retesting January 22nd lows and then at that time going short ZB with a long term bullish outlook on 30yr treasury yields.

My Hedge position looks like it maxed out its loses at -$800 earlier today.
Interesting to note both bond futures positions are back to break even.

The CRB index has been on a tear and looks to be going exponential.
This leads me to question the inflation outlook in the US. With the CRB index looking like it does, we could very well see a reversal which would be hugely bullish for all economies around the world as commodity prices deflate.

Ag's have been on a momentum bull run for months now.



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