i also tested an indicator based on normalized vix on us bonds. off-the-cuff results appear significant so i will confirm later in the week and then determine if there's any benefit to trading us (in addition to es) on these signals from a diversification standpoint. i also thought, contrary to results i've obtained on es, that short signals might work on us but this wasn't so. finally, i will examine from an academic over-kill bent (pdf, for sure) the relative merits of vix, vxo, and vic, the results of which have never been posted in more than a hand-waving fashion. tim __________________________________ Do you Yahoo!? Yahoo! Mail - You care about security. So do we. http://promotions.yahoo.com/new_mail