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Bob:
I didn't take the trade this morning for a variety of reasons (not the
least of which is that Im not really trying to fade the equities much right
now). The way I draw the T-L entry would have been @ 26. Initial stop
would have to be all of the way back up @ 129.05 and with the weaker
equities and my generally surly disposition today, that would be a little
far for me to fade.
As for objectives, I usually make them up as I go. Often the market will
descend one channel below the breakout point (roughly 11-12/32s). I do know
this, If I had done this particular trade, given the trading background
that has developed today... I would be a gone goose with a three - four
tick hit.
Hope this is helpful.
Stewart.
>Yes, I noticed this one on the bond chart, but I didn't act on it
>because I'm a little nervous of the downside potential in the equities
>(which would mean upside in the bonds). I just tend to get a little
>gun-shy in this kind of volatility.
>
>If one had acted on it though, assuming you had entered around the
>breakdown near 129-00, what kind of target might you set?
>
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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