Bogus Friday Rally Sets Up for Monday's Profit
Written by Al Martin Sunday, 09 February 2014 21:47
(2-9-14) We saw the Spoos mount a bogus rally on bearish
unemployment numbers in Friday’s session, setting us up for a pullback early
week, as Monday morning quarterbacking will begin in the Sunday overnight session.
We are now coming into the new week short the March Spoos at 92.50 and would be
looking to cover on a pullback to 80.00. We are also coming in long the March
Bonds at 133.01 and have a standing sell order at 133.13. We would also expect
the Gold and Silver to back off again early week.
US Treasuries Continue to Gain, As Global Economy Quakes
Written by Al Martin Sunday, 02 February 2014 23:22
(2-3-14) We continue to trade the March Long Bond contract on the long side, a continuation of our previous week’s recommendation. We see the Bonds traded up to test 134 in both Thursday overnight and Friday day session trade. We were long the Bonds once again from 133.02 from Thursday’s session and were able to sell them on our standing order at 133.30 in Friday’s day session trade, Bonds going out near their highs in anticipation of weaker Chinese data coming on Saturday, which in fact did come and was weaker than expected. We would expect the Bonds to move higher in Sunday night trade.
Continue To Short Rallies in the Spoos as Contagion Effect Looms
Written by Al Martin Sunday, 26 January 2014 21:35
(1-26-14) We put out an emergency selling recommendation Thursday night, when our standing sell orders in the March Spoos were filled at 1825. We covered M. O. C. Friday and were filled at 1782, Spoos having now broken 50-day moving average. Next stop down – 1760 to test the 100-day moving average
We would be looking to sell any rallies in the Spoos Friday. Shorts have not covered yet and we have seen there’s no end of short covering in Spoos, but any short covering in the Spoos to take them back for a test of 1800 should be shorted.
Continue To Trade from the Short Side on Rallies
Written by Al Martin Sunday, 19 January 2014 23:28
(1-19-14) Despite continuing strength in the March Long Bonds, we are still trading the Bonds on the short side on lifts, covering on 8-10 point dips as we did throughout the week. We are suspicious of this move up in the Bonds and believe it to be only a temporary phenomenon with the sobering reality of tapering to come at the end of this month.
Friday’s Poor Unemployment Numbers Create Fresh Opportunities
Written by Al Martin Monday, 13 January 2014 01:05
(1-12-14) We had
suggested in our last week’s missive that the March Long Bond contract should
be traded on the long side. We see the contract acted well all of last week and
was consistently a buy on dips below 129. We were long the contract going into
the Friday numbers. We did not believe the Wednesday ADP hype about a 250,000 payroll
number. We saw the reaction in the Bonds. We now believe however that Bonds
above 130.20 are overbought and would be looking to short the contract on any
further move higher, as we don’t feel that a new move under 4.90% in the
10-year Bond is in the cards.
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