Continue to Trade the Long Bonds from the Long Side on Dips, as Gold Remains a Sell
Written by Al Martin Sunday, 01 June 2014 22:43
(6-1-14) Once again we were buyers of the June Long Bonds on
our standing order three times midweek at 138.01. We were able to take a
quarter point out of the Bonds each time although the Bonds are now looking
tired in the 138.16 or better area. Continue to buy them on dips down to 137.24
till the tapes tell you otherwise.
Reduction in 'Fear Bid' Favorable for the Spoos
Written by Al Martin Sunday, 25 May 2014 23:01
(5-25-14) It now appears that the elections in Ukraine over
this weekend are going off without a hitch. The inability of Gold to rally in
Friday’s trade combined with the Spoos hanging on to their gains would suggest
that the Spoos will make a move early week above 1900. Bond action continues to
remain firm. We were consistently buying the June Bonds on our standing order
at 136.16 three times in late week trade, selling them at 136.24 and finally at
137.00 on the close Friday. Bonds continue to act well as European junk yields
continue to decline. We will continue to trade the Bonds on the long side on
dips down to 136.16. Watch the action in the Euros. All rallies now in the
Euros have become fresh shorting opportunities, as it is likely that Mario
Draghi foot-dragging will end this month with some fresh easing by the ECB,
taking Euros likely down for test of the 132 area.
Continue to Play the 'Overvaluation Trade'
Written by Al Martin Sunday, 18 May 2014 22:04
(5-18-14) We continue to trade the June Long Bonds from the long side. We were buyers once again in early Friday session on our standing orders at 137.13 which we were able to get out on the midday lift back to 137.22. Bonds came down to session lows in late action. We would look to be a buyer of the Bonds again on any test at 137.00. The US Treasuries are the key indicator of the current speculative bubble on the planet. Watch to see if the 10-year yields drop below the magic 2.40 % yield and watch for any increase in yields in Euro-junk sovereign debt, i.e. Greek, Portuguese and Irish.
Reduced Global Tensions Calm the Markets
Written by Al Martin Sunday, 11 May 2014 21:27
(5-11-14) In Friday’s session we saw the Uncle Vlad Friday
trade begin to lessen, as Uncle Vlad made yet another peace gesture by offering
to withdraw Russian troops from the Ukrainian border for the umpteenth time. We
shall see in next week’s trade if he backs away from it once again.
Watch Out for Monday Unwinding of Uncle Vlad Trade… Again
Written by Al Martin Monday, 05 May 2014 00:25
(5-4-14) With no fresh blowup in the Ukrainian situation
over the weekend, we would expect short covering to come into the spoos Sunday
night. We would also expect the June Long Bonds which reached fresh contract
highs at 136.23 in Friday’s intra-day trade to back off. Although the Bonds
have already fallen back in late Friday trade, we would expect a further
pullback in Sunday overnight trade, creating yet another early Monday morning
buying opportunity in the Long Bonds.
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