The employment data was discouraging this morning even though there were snippets of positive data.  The good piece of information first: private employment=103,000.  Public employment continues to fall (teachers, fire fighters, police, clerks, statisticians etc.); workweek fell to 33.7 hours and temps fell 5,000.  Times are better (we are not loosing 450,000˜) but it really is a slog fest for jobs.

Buys and Sells

+4 BA@$72.82=base of $74.06=6% of Portfolio                                                              -2 SLB@$73.30 reducing the base to $64.65 and to 3% of Portfolio                             Sld out of the ITC position for a 1.34% after all fees (freed-up $ to buy BA which I think has more potential)                                                                                               Continued to buy more ETF shorts of the 20 year Treasury Bond=5TBF@$28.70=base=$29.69=3% of Portfolio