Then bond and stock market inverse relationship showed up again today. Bonds were relatively oversold and vice verse with equities, it just took a catalyst from new home sales for the balancing to take place.

I waited for the reversal, and I cut my profits short. I should have held 1 contract open for my target of 811, but I got spooked from a fake pop up in ZN and the Euro. At least I got a little bit of the wave by shorting YM when 811 was hit on ER.

Market observations:
Before the news even occured there was weakness in YM and strength in the EURO and the bonds were showing support. Even Rick Santelli on CNBC was pesimistic that equities would go up. Out of all the commentators, I happen to like Rick the best, because he knows his stuff when it comes to analyzing the fundamentals and technicals, while the other reports at CNBC seem to just read the headlines and don't seem to be into the game.(I also like mark faber). It's 8:20am my time, and the currencies and bonds have lost steam since 7:30am, and now the stock indices seem to be just chopping around. I'm done for the day.