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To: accountclosed who wrote (72749)	10/29/1999 1:29:00 PM
From: Terry Whitman	Respond to of 86076

Looks like I lucked out and picked a good end of month to take some bonds off the table. <g>

To: accountclosed who wrote (72749)	10/29/1999 3:31:00 PM
From: Henry Volquardsen	Respond to of 86076

bond has certainly had a nice move this last week. I posted a couple of weeks ago that the 6.40-6.45 area was shaping up as a very interesting support level and that I was backing away from my 6.75-7.00 expectation. The move barely got into that range and I wouldn't be surprised to see a retest of the level (I'm not counting on it just wouldn't be surprised). The sentiment in bond land was still negative coming into this week but I was hearing a lot of people looking to buy against 6.45. This may have helped put some juice in this rally. I suspect there is at least one more shake coming but on balance the bonds will probably be better played from the long side for a while. I'm flat going into the weekend and will look for a shot to reestablish longs. But these will be trading longs. I'm not expecting a sustained rally and don't have an interest in being long on anything but a trading basis below 6% yields.