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Strategies & Market Trends : January Effect 2003 -- Ignore unavailable to you. Want to Upgrade?

To: Londo who wrote (280)	4/3/2003 12:50:41 PM
From: Londo	Respond to of 666

Just to get my appetite moist, I grabbed one at 111 24/32 and moved the stop to 16/32. Looking at the tape, there is some severe resistance on the price just at the 111 28/32 level - there are a lot of contracts being posted at the ask, and it's obvious that somebody is liquidating a long position. But the bid appears to be rather strong as well, although that side isn't showing the size. I suspect when the resistance breaks through, there will be a good sized gap in 5 minutes of trading sometime, it might be today or tomorrow. Either way, I see it difficult that the T-bond can trade lower unless if the S&P gets goosed up by an announcement of victory in Baghdad or something. In the meantime, I think the path of most fear is headed up, so here we go.. a small bet.