the Yuppie Pig

We've hit the first upside target, and like traders around the world, 740ish is the next target. The big question is do we bounce off it, or do we rally through it? I'll continue to play the 60 min chart and the associated technicals.


I let go of MON at 80 today as this area appears to be resistance. DBA (ag commodities) have not really been rallying, so in that regard, MON, and the other Ag makes are getting more expensive. Nice trade.


I started a position in USO at the end of the day. It isn't quite oversold and turning up on the 60 minute chart, but I believe the market is still going to head up at least to flirt with 740. I wanted some length so I went with oil.


I also started a position in LQD (investment grade corp bonds) and am still short govie bonds through TBT on a bet the credit spread will narrow as banks are perhaps insolvent, but making money lending.