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> Another alternative is to re-calculate levels at some mid-point during
> the day's trading. 11:30CST seems to be commonly used in the bonds.
You will find that this was taken directly from my manual, so I might just
as well let those who are interested in trading the bonds know where that
time came from. When I post gif files you will see the levels marked on my
charts, from a computer generated program.
You will find, however, that the pit traders calculations are only used in
the absence of proper resistance and support levels, as of course they are
arrive at via man made mathematics, to give a guide. Recently the bonds
have been up in new ground, creating new contract highs, etc, so that there
is not much else to go on - but when there is a decent resistance level,
like there was on Friday, then this was where the market turned - the two
lines of R1 and R2 being of no consequence.
Hope this helps
Bill Eykyn
www.t-bondtrader.com
"Learn to read the tape"
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