I continue to think the TBT will be a good vehicle to trade from the long side in 2009 as rates will eventually head higher. I would look for pullbacks below the $40 level to add to long positions in TBT. A pullback to the live angle in the mid $30’s would be ideal. However, I would continue to be careful with this trade as it is always tough to fight the Fed!


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In conclusion, 2009 will be a great trader’s market and the ability to make tactical moves will be very important as opportunities arise. While I do think we could see a nice rally in equities from these levels, ultimately it will be a bear market rally and should be used to exit underperforming equity names.

On a trading basis, I would look for buy candidates in names that have not made new lows this year. Agricultural commodities continue to be my favorite place to put fresh money to work on pullbacks. Keep an eye out for my updates on the Buzz & Banter and hopefully we can continue to trade tactically and make some money in 2009.

Finally, I know I am not alone when I say how truly sad I am about the Minyanville community losing one of our best and brightest recently. Bennet Sedacca was one of my first close friends I had the pleasure of meeting through Minyanville, and I can certainly say I am a better person having known him. I learned a lot from him and it was great to have an open line of communication with someone who was so willing to share his great experience.

Unfortunately, it is an event like this that makes you realize how fragile life can be and how we all should appreciate the time we have with family, friends, and life as a whole. Bennet, I hope you are enjoying the ride on the other side, brother.



In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.