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Quick response, Stig, as I have problems this morning with both my telephone and SuperCharts. The former is a constant battle with British Telecom and the latter is due to a faulty security block - so I am have discussions with Florida that are a great deal more important to me that all those 'other' arguments currently going on in the area...
Anyway, it would seem that my BUT has come to pass, in that the day ended with an upthrust which certainly alters the picture. I am afraid I don't know what the overnight is doing, but a down day should be on the cards.... Luckily, I am only really interested in the days as they come, one at a time, but it is fun to speculate on the future... Do you see the gif I sent on the Spoo possibly making a bear flag? If not, have a look at a chart and see what you think, because if stocks break in a big way to the south, then I reckon bonds will be scheduled to head north - but of course flags can build for some time before the break. The Spoo will have to have an up day today to keep within the bounds of the flag and that, of course, should send the bonds south anyway...
All food for thought... If I don't get resolved with Florida today, have a nice weekend and we will take it all up again next week... (mind you, if the Americans take their time with this election business, it might play havoc with the market and change everything!)
Bill Eykyn
t-bondtrader@xxxxxxxxxxxx
www.t-bondtrader.com
"Learn to read the tape"
----- Original Message -----
From: "Stig O" <olausson@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Friday, November 10, 2000 8:49 AM
Subject: Sv: [RT] Re: Bonds on the up....
> Nice trend channel Bill,
>
> And to be honest I did'nt see it.
>
> BUT, it is established WITHIN the Wedge. So in my opinion the wedge parameters are the ones governing the development of price in the future.
>
> I won't argue with your DS (especially since I am not sure about the criterias...) and I have seen the upmoves they have been generating earlier.
> BUT, look at yesterdays move in the enclosed gif:
>
> If we keep the trendlines for the established Wedge as shown earlier, yesterdays move entered the Wedge again, but closed BELOW the line - in a Shooting Star pattern. Not exactly bullish.
>
> Furthermore, the downmove from the Oct 26 top, could be argued to be a Bull flagg. HOWEVER, looking at the touchpoint we find that connection points doesn't touch in a zig zag pattern, but down, up, up, down and then the "break out up"(?) (and the close back inside the pattern, puts the Flagg pattern in question).
> So a sloppy onlooker may be fooled into believing we had a breakout from a bullwedge, especially if you use bar charts instead of candle stick.
>
> Thus we tried two breaks yesterday which failed and the day ended in negative shoting star pattern.
> My bearish view on the bonds still stand.
>
> I would suggest, we may be developing a Head and Shoulder pattern instead.....
>
> And I am looking forward the discussion regarding THAT pattern in the future......<g>
> regards
> Stig
>
> -----Oprindelig meddelelse-----
> Fra: t-bondtrader <t-bondtrader@xxxxxxxxxxxx>
> Til: realtraders@xxxxxxxxxxx <realtraders@xxxxxxxxxxx>
> Dato: 9. november 2000 15:48
> Emne: [RT] Re: Bonds on the up....
>
>
> >For Stig and others to consider - see attached Gif.
> >
> >Bill Eykyn
> >
> >
> >
> >
>
>
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