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<DIV>Decline into this morning's low just a couple of ticks above the 06Jun low
lacked momentum as indicated by the 62% w.5 expansion of the sharpest portion of
yesterday's decline (w.3). Big clue that this would be tradable on the long side
was strong OBV in the decline. Am long a few ticks above this morning's low
and watching to see if this will turn into a position trade capable of running
to the old high (or higher).</DIV>
<DIV> </DIV>
<DIV>Earl</DIV>
<DIV> </DIV>
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<DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B>
<A href="mailto:t-bondtrader@xxxxxxxxxxxxx";
title=t-bondtrader@xxxxxxxxxxxxx>T-Bondtrader</A> </DIV>
<DIV style="FONT: 10pt arial"><B>To:</B> <A href="mailto:eadamy@xxxxxxxxxx";
title=eadamy@xxxxxxxxxx>eadamy@xxxxxxxxxx</A> ; <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
<DIV style="FONT: 10pt arial"><B>Sent:</B> Monday, June 12, 2000 12:23
PM</DIV>
<DIV style="FONT: 10pt arial"><B>Subject:</B> Re: [RT] Re: Spoo Spoiler</DIV>
<DIV><BR></DIV>
<DIV>... real tricky markets right now which is why they are moving sideways.
<DIV> </DIV>
<DIV>Earl</DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>I completely agree with you on the tricky
markets, but I am not sure that that is the reason why they are moving
sideways. In fact, I think they are moving in opposite directions (see
attached gif). Discounting the Telegraph Pole, they are actually
both waving their flags in opposite bull and bear fashion and that is all the
more worrying that both are in intermediate up trends. Tricky is a
very good word... </FONT><FONT face=Arial size=2>The tight spring is
definitely right and we should get quite a break when it happens, but like all
these things, it is a matter of time and timing.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>Off for an early drink and I don't feel I am
going to miss the trade of the millennium...</FONT></DIV>
<DIV> </DIV></DIV>
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