(1-13-13) Late week we saw the equity markets reach near-record levels of technical overvaluation with the Dow Transport Theory sell signal having been breached in Friday's trade.
We now see near-term equity prices as overbought as they have been in any time since the beginning of the break of the speculative bubble in Q-1 of 2007.
The March Long Bond contract – we continue to trade from the long side on dips. We saw the contract move up in Friday's session. We were long from our 144.12 buy orders from the overnight session. We were sellers on our standing orders at 145.12 in Friday's trade.
Bonds continue to do well despite pooh-poohing by Bond bears, most notably Bill Gross of Pimco, who hasn't been right about the Bond markets in the last 2 years.
For the rest of this column of commodity futures trading recommendations, go to independent trader Al Martin's website Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC.