Tuesday

Dow was the story Tuesday with a meltdown to 38,333, off 551 points.  Bonds off a point and 28 tics, 117.31 with CPI higher than expected confirming that the FED is going to stay high and tight.  Not bad action in the grains given financials weakness.  Wheat unchanged, 597 1/2 and corn up 1/4 cent, 430 3/4.  Beans leaked 6 3/4 to 1186 1/4 on weaker meal.  Rice off another 26 to 1836 1/2.  Should have some bearish numbers out Thursday and Friday but I believe that's baked in by now.  Fact is, I can't find a bull and the funds are loaded short.