I’ve reproduced a 240-minute chart that shows why a target at 140^12.5 is important. Bonds are obviously a crucial bellwether right now for once-in-a-century nuttiness, and nothing could be nuttier than historically low yields that fail to take into account the reality that the United States is itself bankrupt. Will the zany appeal of risk without reward end when our target is hit? I don’t know, but we can be fairly certain that the target, at least, will be reached. If it is decisively penetrated as well, we’d infer that the major trends of the moment — stocks down, dollar up, bullion erratic but buoyant — are likely to continue. _______ UPDATE: The Bonds have topped so far at 140^12.5, the exact price forecast last weekend when they were sitting below 135. If you shorted more than one contract at the high, you could have booked a partial profit of as much as $750 per contract, since the futures pulled back to 139^19.5 after kissing my number. If you hold a single contract, use a break-even stop-loss and switch to a trailing stop of at least 16 ticks once 139^12 is touched.