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-----Original Message-----
From: greene@xxxxxxxxxxxxxxx <greene@xxxxxxxxxxxxxxx>
To: Richard Parsons <richard.p.parsons@xxxxxxxxxx>
Cc: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: 29 January 1998 22:49
Subject: Re: Bond investing
>They certainly did like the remarks. Has a bit of a smell of a relief
>rally to me though. I've had bonds on an intermediate sell for a few
>days now - and I'm just waiting and watching. I got whipsawed in early
>September - so I decided to watch for a few days before I sold any of my
>zeros. Wonder if I got a buyback at the close of trading today?
One of the things that I get a real buzz from is seeing my levels in the
market causing a reaction. On 12th January my level at 106 10/32nds was
touched; the sell off ran down about 4.166% before rallying. I'd say the
trend is up from July 1996.<g> Didn't Warren Buffett just buy a load of
zeros?
The great thing about trading is that, even if your ultimate target isn't
achieved, you can have a lot of good trades along the way. Always leave a
bit for the next guy!
>
>I don't follow any particular treasury issues. I follow the tbond and
>muni futures (continuous contracts) - yields on the benchmarks - the
>Benham Target maturity funds - the DJ bonds - maybe some other things I
>can't remember off the top of my head. I do systems - trend line work -
>etc. on all of these. I think that's enough (maybe more than enough
><g>).
>
I started collecting data on the currencies and Long Bond off CNN in 1994.
Here in the UK the TV channels carry a teletext signal which is used to
broadcast all sorts of information; travel, weather, financial, etc. CNNText
& Reuters supply hourly updates. SKYText started providing real-time prices
every minute about six months ago.
>Managing an income portfolio is supposed to be like watching paint dry
><g>. As it is - I don't do much for most of the year (except read and
>look at charts). Then I do all the buying I have to do once or twice a
>year over a period of a few days - when I think the market is right.
>
I have to admit that I don't trade as frequently as I would wish; so many
missed opportunities.<g> When I do it has to be impulsive. At that precise
moment in time I have to summon all my thoughts and analysis and hope that I
have done enough preparation. I believe one has to develop a 'trader's
instinct'.
>There's an old saying - if you don't know who you are - the market's an
>expensive place to find out. I've been in the markets for about 25
>years now - and I know that intraday trading isn't for me (or my
>stomach). About the "sexiest" thing I do is trade Fidelity Select
>funds. Puts a few dollars in my pocket - and the volatility's about as
>much as I (and my systems) can handle comfortably. Your mileage may
>vary <g>. Robyn
>
This is my tenth year following these markets and I reckon I deserve every
penny I can extract, after the hours of study I have devoted. BTW If you
haven't studied options I would recommend The Option Course by Rudi
Binnewies. www.bayoptions.com All the answers are there but it will probably
take you at least two years to think of the questions. At least, come April,
that's how long it's taken me. I'll let you know then if two years is
enough.<g> Richard
>
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