Stronger US Treasuries Spell Trouble for Equities by AL MARTIN (INSIDER INTELLIGENCE)
(2-10-13) We continue to trade the March Long Bonds from the long side on dips. Once again we were buyers of the Bonds on the mid-day dip in Friday's session on our standing orders at 143.05. We were sellers again on the close at 143.23, taking just over half a point out of the contract.
The Treasury Long Bonds despite the proselytizing of the "Bond Bears" would demonstrate that there is a growing short interest in long-dated Treasury paper that we suspect is going to be flushed out. We continue to look at the Bonds from a trade on the long side.
The March Dollar contract - up against resistance at 80.30/ 40 level We think this resistance will be held for now as we don't feel the Euros are ready to come under 1.3350 yet, however likely ECB and German government action is coming to force the Euros lower which will make this contract a buy again for a 50 point scalp.
March Oil - we continue to short the Oil on moves above 96.00 as we did throughout the week taking 25-50 cent scalps.