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Note that the broken t-l is now acting as resistance. Would hate to see
price spend much time crawling up the underside of the t-l (like
yesterday). You are right on (in my opinion) as to adding on a break of
the mornings low, but where would you put your stop?
I don't follow your comment about the r-road track. Would you mind
elaborating?
At 09:26 AM 9/11/98 -0500, you wrote:
>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/
>
>
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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