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Ben, you may well be right in the longer term, but for the moment the Doji
Sandwich on the Contract High is leading to lower prices. The way I
measure retracements, the price could fall to 95^20 and it would still be a
very bull retracement in the near term. Even 94^10 would be bullish, but it
might take a while to take out the present Contract High. However, if it
went below 93 evens, then I think any potential up move will have broken
down.
As I write, it looks as if it might have bottomed on the low of 7 days ago
and, once again, the S&P is turning round and heading for the lows. But if
the Spoo regains its upward momentum, then you could see the bonds close
tonight in the heavy support area around 97 evens. Whatever, it has been a
fair day for putting bread on the table.
Bill Eykyn
www.t-bondtrader.com
"Learn to read the tape"
----- Original Message -----
From: <Proffittak@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 12, 2000 2:57 PM
Subject: [RT] us bonds
> good morning
> as you know i have the June 98 bonds puts
> selling at a loss
> reason
> the technical long term have IMPROVED to the point of me BUYING
> the dips
> Regards,
> Ben
>
>
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