Bond rally nearing an end?

I don't really know what shall i do. I'm long in ZN and ZB.

In ZB, i see some resistances from long time. I think this is just the begining of a big rally, but now we might see some pause and that is why i don't know what should i do.

In ZN i think there is a lot more upside room in the very short term. But if ZB goes down a little, ZN might follow de big brother.

Opinions???

Bye.
 
Quote from lrito:

I don't really know what shall i do. I'm long in ZN and ZB.

In ZB, i see some resistances from long time. I think this is just the begining of a big rally, but now we might see some pause and that is why i don't know what should i do.

In ZN i think there is a lot more upside room in the very short term. But if ZB goes down a little, ZN might follow de big brother.

Opinions???

Bye.
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If you are in a trade without a strategy for the exit, (other than with a profit) then bail out now and reevaluate why you entered the trade.

Or would you enter long at this point? Yes stay, no get out.

Make 'em pretty, Chris
 
I keep getting killed when this rate-lock selling never shows up. Last two days have been trying to get short around 106-26 and end up eating them right away. There was quite a bit of put option activity (both ways) today with Lehman (probably dealer account) buying Oct 105 and 106 puts while probably hedge funds selling Nov 105 and Dec 105 puts. Not much in the way of call buying at all today. Interesting. Tomorrow could be a rate-lock day since no data, we'll see.
 
Seems like the market's trying to fill the gaps... I like this, means we can clear the boards before finally deciding which way to go...
 
Quote from mcurto:

I keep getting killed when this rate-lock selling never shows up. Last two days have been trying to get short around 106-26 and end up eating them right away. There was quite a bit of put option activity (both ways) today with Lehman (probably dealer account) buying Oct 105 and 106 puts while probably hedge funds selling Nov 105 and Dec 105 puts. Not much in the way of call buying at all today. Interesting. Tomorrow could be a rate-lock day since no data, we'll see.
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Do you try to take advantage of new-issuance hedging often?
 
When we get months like September and particularly heavy issuance I try to take advantage of the rate-lock selling by front-running as soon as it feels like rushed 2000-5000 lots are hitting the 10yr futures. Unfortunately I wasn't in town on Tuesday so wasn't able to catch that move in the TY, and heard there was a large amount of rate-locking then. Now these deals will begin to price, so as we get toward the middle to end of the month these hedges will be lifted and provide some support to the market, even more so if certain dealers get hit on less bids than they bargained for pre-issuance.
 
Quote from landboy:

Visited your stomping ground over the long weekend mcurto... What a beautiful city, pleasantly suprised that such a large city can still be so liveable...

Tried to take a "tour" of the CBOE, but were quickly kicked out by a nasty security guard. I don't quite fit the profile of a terrorist, but they looked like they had seen the terminator had walked thru the door. Then tried to get into the CBOT (saw the good ol Ceres hangout) but that was also pretty well boarded up. sigh...

One other question, is Lou Malnati's pizza any good? We ate dinner there and we were kinda underwhelmed by the deep dish... Maybe we got a bad batch but it tasted like a hunk of tasteless cheese...

Can't wait to go back to the windy cityl...
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All things considered, Chicago is the best city in the U.S., bar none. I spent five years there, and there are only two cons; far from the ocean (can't surf on a lake) and the pits are going away. As far a pizza is concerned, there is a place around 300-400 Clark St., in the Loop, that sold a MAMMOTH slice and a small styrofoam drink(pour your own) for $3.00. The place was always jammed. I don't know if it's still there and/or still $3.00, so Mcurdo, can you help out here? Biggest slice I've ever had; eating two is a feat.
 
Wow, 300-400 Clark I'm really not sure. I can tell you a few places that are not in the Loop though. One of them is Salernos, quite possibly the cheesiest thin crust you will ever have. It is not paper-thin crust either, just the right size. They will make the pizza extra greasy or you can get the cheese well done (slightly burnt). Salernos is on W. Grand out near Milwaukee Avenue, in the old little Sicily neighborhood. The 30yr options pit was kind enough to buy pizzas today for everyone and got Damenzo's (in Little Italy on Taylor Street I think), which concentrates more on the sauce (very good) and the cheese is a bit more well done than Salernos. All of the other popular tourist deep dish places are good, but without character. I would have to say hands down Salernos is my choice for best pizza in Chicago. If you want an amazing Italian sub and authentic Italian market than Bari, also in the same area as Salernos, is another great choice.
 
Quote from mcurto:

Wow, 300-400 Clark I'm really not sure. I can tell you a few places that are not in the Loop though. One of them is Salernos, quite possibly the cheesiest thin crust you will ever have. It is not paper-thin crust either, just the right size. They will make the pizza extra greasy or you can get the cheese well done (slightly burnt). Salernos is on W. Grand out near Milwaukee Avenue, in the old little Sicily neighborhood. The 30yr options pit was kind enough to buy pizzas today for everyone and got Damenzo's (in Little Italy on Taylor Street I think), which concentrates more on the sauce (very good) and the cheese is a bit more well done than Salernos. All of the other popular tourist deep dish places are good, but without character. I would have to say hands down Salernos is my choice for best pizza in Chicago. If you want an amazing Italian sub and authentic Italian market than Bari, also in the same area as Salernos, is another great choice.
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Yeah, deep dish throws you off a bit, it's like Italian quiche. Other food stops that stick in my mind are the lunch buffet at the top of the Hancock, the buffet at the Opera House in the train car and a deli just east and a block or two north of the Merc. Forget the name, but their half-sandwiches were 6-8 inches thick and they had a sign out front banning cell phones inside their establishment.
 
Perry's Deli north of the Merc, no cell phones, huge sandwiches. Haven't been there in awhile but they crank out some big business.
 
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