Keep Shorting the Spoos on Rallies
Written by Al Martin Sunday, 08 September 2013 22:54
(9-8-13) In late last week action we saw the Dec. Long Bond
contract was once again a buy on the dip down to 128.12 where we had our
standing buy orders. We were able to take ¾ of a point out of the trade by the
close Friday. Bonds remained oversold due to "Taper" jitters. However we
continue to trade the Bonds from the long side on dips. The Sep. Dollar
contract continued to vacillate in the 82.00 – 83.00 range. However we still
expect the Dollar to work higher, as we continue to short the Euros and Pounds
on rallies above 1.32 & 1.55 respectively.
Watch Out for “Syrian Fear Bid” Reversal
Written by Al Martin Sunday, 01 September 2013 23:56
(9-1-13) With no action on Syria over the weekend as had been previously anticipated and action looking to be several weeks away, we would expect some reversal in so-called Syrian Fear Bid trade as occurred throughout last week. Accordingly we expect that the Sep. Long Bond contract could back off. We were sellers again at 133.07 after having been long in Thursday and Friday’s action. We expect however that Sunday night we will see prices soften under 132.24, possibly down to 132.16, allowing for a quarter point trade.
Bonds Acting Better as Spoos Remain Under Pressur
Written by Al Martin Monday, 26 August 2013 00:06
(8-25-13) We saw a continuing good lift off the recent lows in the Sep. Long Bond contract, as the 30-year cash bonds got turned back from the 3.93% yield handle, We saw substantial buying in the cash 30s, when yields rose above 3.90%, giving traders some idea where demand is in the instruments. Bonds have now had more than a 2-handle lift off of recent lows. We would look to potentially short the Bonds on moves above 132.08.
Bonds Oversold, Commodities Overbought
Written by Al Martin Sunday, 18 August 2013 22:45
(8-18-13) After having been short the Bonds Thursday from our 132.08 sell orders which we covered Friday on our standing orders at 131.08, we bought the Bonds in again at 130.30 and are long from that level and will be looking for a bounce back to the 131.16 area to get out.
Sep. Dollar Index continues to consolidate in the 8120-40
area. However we continue to look for the prices to move north, as we expect
that the upside action in the Euro is now done.
Action in Treasuries Leaves Egg on the Faces of Bond Bears… Again
Written by Al Martin Monday, 12 August 2013 00:45
(8-11-13) Contrary to the proselytizations of the Bond
Bears, we continue to trade the Sep. Long Bonds from the long side on dips.
Once again we were buyers on the close Thursday at 134.07. We sold on our
standing sell order at 134.15 in Friday’s session, taking a quarter point out
of the contract. With the Euros continuing to move higher, the action in the
Bonds is befuddling the Bond Bears.
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