Bonds Join the Ranks of the Overbought
Written by Al Martin Monday, 28 October 2013 02:44
(10-27-13) We are now trading the Dec. Long Bond contract on the short side on rallies up to 135.12 or better, covering on ¼ - ½ point dips. We think the Bonds are overbought at current levels and should be shorted on rallies above 135.12
Relief Rally Now Over
Written by Al Martin Sunday, 20 October 2013 21:25
(10-20-13) We were trading the Dec. Long Bond contract from the long side, when our standing orders in early Thursday trade at 132.04, were hit. We were sellers on our standing orders at 134.04 in Friday’s trade. We think the Bonds have gone as much as they can go in this near-term relief rally. We would now be looking to sell the Bonds on any further move higher in Sunday night's trade.
Equities Rally, Bonds Back Off in Anticipation that Peaches ‘N’ Cream Trucks Will Arrive Before the Deadline
Written by Al Martin Sunday, 13 October 2013 21:50
(10-13-13) We saw sharp spikes in the spoos in Thursday and Friday’s trade, which we refused to trade on the long side. We are short the spoos again from the close at 1699.50 in Friday’s session. If nothing concrete is done over this weekend, spoos will move lower on Monday.
Bonds – also under pressure Friday for the same reasoning. However Bonds too will rally in Monday’s session if the Senate is unable to produce any concrete results.
The Dec. Dollar Index continues to hold the 80.00 level. We are now beginning to see rallies in the Euros turned back. We continue to short the Euros and did so in Thursday’s session on our standing order at 1.3575 and were able to take 40 ticks out of the trade in Friday’s session. We continue to look to short both the Euros and the Pounds on rallies.
Dec. Gold saw continuing liquidation in late week action
based on the concept that the Peaches ‘n’ Cream trucks were coming in Washington. We were
short the Gold off our 1299 stop in Friday’s action. Gold broke the 1282 support
area and traded down to the 1265 area. We expect that if nothing concrete is
arrived at over the weekend that the Gold will rally back to test the 1292
Washington Uncertainties Create New Opportunities
Written by Al Martin Sunday, 06 October 2013 22:57
(10-6-13) Last week in the December Long Bond contract we
were twice filled on our standing orders, selling eight Bonds at 133.24,
covering at 133.00, now the fifth time we have been filled on that standing
contingent order. However we believe as the October 17 drop date grows closer the
Bonds will eventually come under pressure. Bonds, we think, remain a sell on
First Week of New Quarter Presents Fresh Opportunities
Written by Al Martin Sunday, 29 September 2013 22:49
(9-29-13) We continue to trade the Dec. Long Bonds from the long side on dips. Although the contract is now being turned back at the 133.20 area, with our expectation that the S&Ps will move lower in Monday’s trade, we would expect the Dec. Long Bond contract to once again mount a rally effort to 133.20,
We are currently short the Dec. spoos at 1692. We’re looking for a test of the 1675 area after which we would expect a modest bounce.
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