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I am amzed that nobody have mentioned the potential Head and Shoulder
formation in June T-Bond (and where the neckline was marginally broken
intraday, yesterday) and this baby has a potential of 104!! (no time
potential)
This is very interesting, since most analysts are projecting a bottom in
the 117 area. Well, if we see abottom there, it looks like it's going to be
the break of the neckline and the bottom will only be the bottom of a
reaction back to trendline...
What's more interesting is the falling wedge that developed before the H&S.
We broke down on the "Wrong" side and the breakdown looked like a failure,
but we went up to the upper trend line of the wedge and have now returned
back down. So it looks like the 1st break was true enough since the test
have been confirmed bearish.
Like I have said before - the interesting thing about falling wedges, is
that knowbody seems to recognize them (except for RT's now...), look in any
text book (edwards and Magee for instance -they don't exist!!!!)
Perhaps thats why they work so well and brutally.
If we WILL see the 117 bottom - look for a following!
regards
Stig
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> Fra: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
> Til: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Emne: Re: june bonds
> Dato: Wednesday, May 05, 1999 5:16 AM
>
> Hi Ben et al,
>
> I got this new toy and I haven't got the slightest idea what I'm doing
with
> it; but this is what I came up with on the Bonds using this MESA-Graph
> (Maximum Entropy Method)that I got from our Sentinal Trader. It looks
> interesting and shows an eventual drop to about 117 in early July. HeHe,
I'm
> sure not putting money on it.
>
> If anyone knows how these inputs work it would sure be nice to know what
I'm
> doing.
>
> Brent
> -----Original Message-----
> From: Proffittak@xxxxxxx <Proffittak@xxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Tuesday, May 04, 1999 5:12 PM
> Subject: june bonds
>
>
> >hello
> >
> >as you know a few weeks ago i did not think we will break 120
> >we did today
> >crb index and goldman sacks index are creeping up
> >and oil index and spot had DOUBLE from its low
> >
> >if sp500 goes south would bonds rally???
> >maybe temporrarily,,,
> >but if funumentals pressit to be bad,, then bonds should continue
south
> >just my view
> >Ben
> >
>
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