Tom,
Nice trade on those bonds. I'm also still short, although not as confident as yesterday, but that could be a good sign, and you know how misery loves company...
On the bond market, I found that this is the best trending market in all futures markets. Once the market begins a move, it's like a freight train. I was long the bonds for about seven months, I had to roll over into December, before I finally pulled the plug just a few weeks ago.
I love the bond market, it seems easy because of the continuous trend it takes, not to mention a few whips here and there before it finally gets started.
Provided that the equities markets continue their rally after a brief correction tomorrow morning or soon enough there after, I can see the bonds continue to inch their way back to earth as the earlier bond buyers liquidate their bond holdings and return to equities.
I still have no confirmation of a bond top, I'm just taking some shots at it in the meantime.
On my SP's, I'm still long, the NYSE advance decline (a/d) was still very positive and my stop for tomorrow is essentially out of range. I don't use stops, but since the numbers are increasing, the wave of buying is still not completed even if we sell off some from here.
GZ |
