Bonds and equities seemed to like today's CPI number, although it came in higher than the consensus estimates... I guess the core number is all that is important - who uses food and energy anyway?!? We won't complain, however, with the results. Sugar was up again today, and to a certain extent seems to have decoupled somewhat with Crude prices (which slipped).

Although we don't have any grain exposure, the grains slipped some today, despite continued concerns about the winter wheat crop in much of the US, Canada, and Central Europe.

Our TNR model booked two trades today, one winner and one loser. Net loss on the day was $98. We are calling for a Reversion day again in NQ tomorrow, and neutral in ES.

Our positions:

Contract	ctrcts	Open P/L	days on		Contract	ctrcts	Open P/L	days on
@US.P	0	$0	0		@NG.P	0	$0	0
@TY.P	0	$0	0		@KC.P	0	$0	0
@FV.P	-4	$613	14		@SB.P	3	$12,029	102
@EC.P	0	$0	0		@CT.P	0	$0	0
@JY.P	-1	-$313	12		@GC.P	3	$9,870	113
@CD.P	2	$260	22		@SI.P	1	$3,445	64
@C.P	0	$0	0		@HG.P	2	$11,475	181
@W.P	0	$0	0		@LB.P	0	$0	0
@S.P	0	$0	0		@ES	2	$3,750	64
@CL.P	0	$0	0		@YM	0	$0	0
@HO.P	0	$0	0		@NQ	0	$0	0
		Total Open Trades			$41,129
		Total Closed Trades			-$12,400
		Total			$28,729

Good luck, and have a great evening!