Firstly, what does our discussion from back then have to do with you asking silly questions? Secondly, I see that not much has changed. You were a total ignoramus then and you still are today... Have you actually looked to check where the bond mkt is these days? The trade we were discussing in the thread you refer to, the one I said offers poor risk/reward, was short 2y USTs. We looked at it mid-August 2010, when 2y notes were yielding arnd 50bps. Where did it close on Friday, the 7th of July 2011, do you have any idea? The constant maturity 2s closed at 49bps, according to Fed H.15, while the current 2s closed at 39bps. This means that if you went short 2y notes in August and held the position to today, you would have lost 10bps on rolldown and smth like 20bps or more on negative carry. You would have done a bit better if you went short 10s, but even there the negative carry and rolldown would have meant that you have lost money. You go ahead and think about that for a bit, will ya? So all this is telling me is that you still know nothing about the bond mkt, even though it's been almost 6 months now, during which you could have educated yourself a bit. But what's really amazing is that you're so willing and even eager to repeatedly demonstrate your ignorance to the whole wide world.
It's not easier to trade spreads than it is direction... Moreover, your initial post is silly without narrowing down what asset class you're talking about. That is the reason so many people, including myself reacted to your post the way they did.