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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Lee who wrote (25715)	4/23/1999 12:58:00 PM
From: SE	Respond to of 50167

Yes, that would be Andrew's forks.....not mine! :) As certain as I was before about this being the bottom, I am a bit uncertain now.....The TYX read is a bit more troubling and seems to indicate rates might go a bit higher before they turn. In short, this second test of the middle tine and now today we have hit it several times and are sitting right on it, may indeed be warning that this tine is not going to hold and we will go lower on the bonds and higher on the yields. Bonds are already a point and a half off the highs as the market shot up and maybe there is a bit more downside to come especially so if we break through about 120'24 which I would think would represent a failure of this fork. I am going to wait till Monday before attempting anything. I am stilling leaning toward the change in trend, but when I speak of that I am talking short term trends....not something that would necessarily indicate a buy of the Sept contract for a hold. Just so you are clear on my read.... I really should be the one thanking you for your thoughts and posts as I always read them with great interest. Thanks -scott