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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (4889)	9/30/1998 11:40:00 AM
From: Tom Trader	Read Replies (1) \| Respond to of 44573

I am long the bonds--a system trade --have been long a while and have thought that it has gone high enough ever since it hit the 24-25 level --and have been wrong. I personally would not short it--and if you do one should keep in mind the danger of a gap open against you. Perhaps instead look to go long when it pulls back. Having said that, I think that I saw somewhere that the bullish consenus on the bonds is something like 98% -- and anything over 90% in the past has been a sign of a top--but it has been over 90% for over 4-6 weeks, I think. Also, the 5% level--which is about where it is at should offer some psychological resistance, I would think.