Bond Trader 2006

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Amazing. The NN has taken a dive to China. It is hitting negative numbers I haven't seen before.

If you are short, consider taking some profits, but whatever you do, DON"T reverse. Let things sort themselves out.

FWIW, I'm still short 2 ZB's.
 
Observations

Did you notice that I only traded a 2 lot today?

Did you notice that on Friday I wrote that Friday was a day to trade multiples of one's normal size?

Learning how to spot these different types of days takes some practice, but an economic calendar and an analysis of price action will let you know when to hold back and when to do a Charlie's Angels: Full Throttle.
 
Wednesday 05 July 2006

Today we have the following (CST):

MBA Purchase Applications
0600

ICSC-UBS Store Sales
0645

ADP Employment
0715

Redbook
0755

Factory Orders
0900

Ah, what a shame. I'm writing this now at 0530, and I see that prices have traded from a high of 106 19 to a low of 106 05, all between the time of 0100 and 0530! This is the price action I would have loved to have seen on Monday July 3rd.

Price projection numbers:

106 28
106 20

106 15
106 03

Tipping Hand Prices:

106 10
105 20
105 12

No bias. Need to see what the reports will do. Obviously now that we are at the lower end of the price projection numbers it would seem logical that we'll get a chance at the highs again.

Long term (weeks or months out) I still think we will revisit the lows.
 
Target is 105 28 on the ZB's and equivalent on the ZN's.

Now is not the time for a bathroom break!

UPDATE
0740 If we don't break 00's consider exiting for profit.
 
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