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Stewart:
Yes, I saw that as well and I thought about it for a good minute or two before
selling half a unit in bonds and in ten years.
By the way, take a look at a 40 minute chart in bonds if you can, with the
starting time of the open this morning. We have a nice looking RR track from the
highs today. Although I am treating the short position as a scalp, if we take
out the lows we just made at 12827, I think this could accelerate fast on the
downside and I would add on a break.
Best,
Tim Morge
Stewart Taylor wrote:
>
> Another three drive move with a trend line break in the bonds this morning.
> Note the clear three drives on the 15 minute chart. 1st drive to 128.22
> (09/10 @ 10:05 AM), 2nd drive to 129.17 (09/10 @ 2:20pm) and the third
> drive this morning @ 129.23 (09/11 @ 9:50am).
>
> There are overbought conditions in all perspectives and the momentum is
> declining. The set up was a very nice one.
>
> In this case the t-l intersected price at 129.12, Entry stop @ 129.10 was
> filled cleanly and the initial break took prices as low as 128.27. You
> have the choice, if you think that the break is going to be bigger of
> holding the trade or treating it as a scalp (a better idea as all the
> underlying trends are up).
>
> Anyway.... Im still trying to stimulate some discussion.
>
> Stewart Taylor
> Taylor Fixed Income Outlook
> Voice: 501-219-9774
> Fax: 501-228-0963
> E-Mail: staylor@xxxxxxx
> Web Site: http://www.cei.net/~staylor/
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