Financials: Dec. Bonds are currently 20 lower at 151'15 and the 10 Yr. Notes 8 lower at 133'25.5. Yesterday the Bonds traded as high as 152'15 slightly above resistance of 152'04 an area stated in my last "Report" (dated 11/12/2012) where I am willing to initiate a trade from the short side of the market. If you went short, either take the short term profit or use a protective buy stop just below your entry level. If the market should trade below the 151'00 level lower your protective buy stop to the 151'22 level. Support remains in the 150'04 area. I still have a long term negative bias, that being said, I am still looking for short term trades, cognitive at the moment of Fed policy and the coming "Fiscal Cliff". If you are looking for a long term trade consider out of the money putsa for either Jan. or Mar. expiration.
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