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<DIV><FONT color=#000000 size=2>Thanks to all who sent info on the bond symbols
with bmi. </FONT></DIV>
<DIV><FONT color=#000000 size=2>This is what real traders is all about.
</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>Another quick question. </FONT></DIV>
<DIV><FONT size=2>What are the hours for the ZB symbol? </FONT></DIV>
<DIV><FONT size=2>Also what are the hours for the US symbol.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>thanks again</FONT></DIV>
<DIV><FONT size=2>Andrew S. </FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Andrew <<A
href="mailto:andrew@xxxxxxxxxxxxx";>andrew@xxxxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Tuesday, March 09, 1999 4:49 PM<BR><B>Subject: </B>What are the Bond
symbols on BMI data<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=2>Hello, </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>I am using BMI data and
I </FONT><FONT color=#000000 size=2>just added the cbot to my
account.</FONT></DIV>
<DIV><FONT color=#000000 size=2>I am using the day session symbol
US9H</FONT></DIV>
<DIV><FONT color=#000000 size=2>but I can't figure out the night session or
the project A session symblols.</FONT></DIV>
<DIV><FONT size=2>If anyone knows them, please let me know.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Thanks.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>I tried calling bmi, but the they had technical problems
and after 25 minutes... I just hung up. </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>thanks for your help.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Andrew S. </FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Wed Mar 10 05:37:34 1999
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Date: Wed, 10 Mar 1999 06:30:24 -0600
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From: Bob Hunt <RHunt.066@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: T-Bond Day Trading for Wednesday, March 10
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T-BOND DAY TRADING FOR WEDNESDAY, MARCH 10
released 6:30AM CT, 3/10/99
-----------------------------------------------------------
Support, Resistance, and System Signals
USM9
R3 123 1/32
R2 122 12/32
R1 121 23/32
DP 120 23/32
S1 120 2/32
S2 119 2/32
S3 118 13/32
MONITOR FOR HOLY GRAIL SETUPS! If the 5/15/30/60 or 120 min ADX>30
then look to trade the bounce against that period's 20EMA with the
last intraday swing pivot extreme as the target.
Watch for OOPS! Trade - If O < YL then buy YL on a stop.
-----------------------------------------------------------
Commentary
Yesterday’s market opened with a rapid descent to 119-23 within the
first 5 minutes of trading. I thought it was rather interesting that
its stopping point in this descent happened to be just one tick above
our S3 level. Far be it from me to become a braggart, but this
commentary is one of the very few sources, of those that use pivot
levels of support and resistance, that include the S3 and R3 levels.
Most use only the first two. I’ve found these third levels to come in
very handy from time to time, yesterday being a prime example.
I would think that yesterday’s initial downmove came as a bit of a
surprise to most traders. It did me. But what was even more surprising
is how well the market begun to advance after such a sharp initial
downthrust. Very impressive indeed! Still, the opening gap was 8
ticks, and I had stated in yesterday’s commentary that a gap of 8-10
ticks can often be expected to close. Aggressive traders could have
used that information and the fact that the downmove bounced off of a
support zone defined by S3 and a 3/4 intraday pivot high to get long.
But not me! The market had not yet proven that it merited a bullish
bias, so I was still in a wait-and-see mode.
However, later on, when the market made an impressive thrust through
the DP, without a single sign of hesitation, we knew that we finally
had something going. We knew that the direction of the trend day as
defined by the NR7 was most likely going to be up, and we had every
reason to put our bull caps on.
As I’ve mentioned several times in this commentary, these kind of
breaks through the DP often return to that zone before advancing
further. And true to form, the bonds did just that, giving us another
chance to get long. The initial "minor" price reversal pattern off
120-12 would have been a tempting trigger to do so. But the return to
that level a short time later with the accompanying 5 min. oscillator
divergence (3EMA-10EMA) was a much stronger sign. Getting long in this
area with a stop at 120-10 (2 ticks below the most recent pivot low)
just made a whole lot of sense.
The subsequent turnback from the zone defined by the previous intraday
high at 120-30 might have shaken us out, but we still should have come
away with some sort of profit. Those with a little more tape reading
savvy would have realized that it often takes three tries to break a
resistance zone such as this, so sitting tight with a stop maintained
at the original 120-10 level, or maybe even at break-even, would have
kept us long for much of the rest of the day. The market just kept on
moving upward with absolutely no price reversal patterns or oscillator
divergences to speak of, and, hopefully, we would have exited prior to
the sharp downmove within the last 5 minutes of trading.
For today’s trading, we don’t have any System Signals fired. But our
cycle indicators are telling us that we probably have a bit of upside
left. If we look at the 200 minute chart (attached) we can see that
the 5 period Double Stoch (thin red line)is beginning its second peak.
According to the indicator’s originator, Walter Bressert, typically,
what happens with the Double Stoch is that the 10 period (thick blue
line) defines the larger 20 period cycle, and the 5 period Double
Stoch defines the smaller 10 period cycle. Generally, what we look to
happen here is for two thin red-lined peaks to occur for every one
thick blue-lined peak. As for any cycle analysis, it hardly ever
happens quite that cleanly, but I’ve found it to be a good, rough
gauge as to where we are and what to expect.
The 2 period slope of the 7 period %K is up, which is a bullish
indication. Price is currently above the 20EMAs for all the periods in
which normally monitor Holy Grail setups. This is also bullish.
Some support and resistance levels of concern: The overnight high is
at 121-09 (as of 6:30 AM CT). YH was 121-12. We also have a line of
resistance at 121-13 coming in from the 2/26 high. Directly above that
we have Friday’s high of 121-20. And directly above that we have R1 at
121-23. Beneath us we have all EMAs, the first being the 5 min.
starting the day at 121-00. At the same level we also have the
overnight low (as of 6:30 AM CT). Directly below that we have both the
15 minute EMA, Monday’s high of 120-25, and the Daily Pivot at 120-23.
There are no reports of consequence being released today, although Fed
Gov. Edward Kelley is speaking just as the market opens.
I’m going into today’s trading with a bullish bias, based principally
on the position of our cycle indicators, and the fact that I think we
still need a test of Friday’s 121-20 high before this market can
seriously think about rolling over. Ideal scenario would be a drop to
the 5 min. EMA or better yet, even lower to Monday’s 120-25 high. With
the DP just below at 120-23, there should be a good band of support in
here. Look for either a price pattern reversal or oscillator
divergence to buy on. 121-20 would be a good target.
If, on the other hand, price is able to work its way below the DP, its
time to consider shorts. An impulse move down through this level,
followed by a gradual retracement back to the DP would be a very good
short set-up. But, wait for a price reversal pattern to trigger you
in; it’s the market’s way of telling you "NOW!".
As always, the rest of the day is a matter of identifying support and
resistance levels and closely watching price action near those levels.
Bob Hunt
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