Bond Trader 2006

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Surdo,

I believe we are all set. I will sit tight even if we approach my entry. This is the big one. Well what I mean is, as a daytrader, I'm counting on a 10 to 14 tick trade per ZB contract from the short at 110 26 or 110 27.
 
Looking for a second retest of 110-30 then down to at least 110-24 , the other option is to go for MARKET order anywhere above the opening price BUT NOT WORST THAN THAT.
 
Quote from Lance Carson:

Whatch that 110-21 like a hawk if it does not reach it, start thinking about getting the hell out because it is not going to do it after 12 noon.
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Got it Lance! My sentiments as well.
 
0809 CST Considering closing half to more than half of my position on this attempt at the low.

0811 CST
Bought 8 ZN's 107 050
Bought 2 ZB's 110 24

0813 CST
Bought 2 ZB's 110 24

My spidey sense is telling me to get out, even though I still think a break through the lows is possible. I'll be looking to go short again.
 
Even though one could argue I am exiting all positions prematurely, per my view of the chart, if one were to enter on a break of 110 22, the potential target is 110 14 to 110 12.

UPDATE
0822 CST The only mistake made so far this AM was to not exit all or most on the 0800 5 min bar and re-enter shorts on the 0805 5 min bar.
 
0827 CST Sold 4 ZB 110 22.

UPDATE
0828 CST Sold 4 ZN 107 040

UPDATE
0831 CST We've gone as low as 110 21, but the push is weak. No more contracts for now.

UPDATE
0832 CST We kissed 110 20. Let's see. Targets are 110 14 and 110 12 on the ZB's and 107 000 on the ZN. I would be leery of waiting until 107 000 on the ZN. That number looks too good, i.e. everybody and his brother will be waiting there too.

UPDATE
0836 This push lower is pretty weak. Need to consider exiting everything.

UPDATE
0838 Business inventories is coming out at 0900 CST. To be honest the important reports were out at 0730, however this 0900 report might be a kick start to a downmove or a reversal if the market is just waiting for an excuse.
 
NO Cigar, NOT retesting a third time soon enough, means there is a 80% chance for prices to go sideways or even back to 111-00.THe down draft was a clean up of stop loss positions on an expected weak retail sales report ( did not materialized).

Anyone short should be getting out or moving their targets higher.

Retesting 110-22 as I type this. we'll see.Looks like it did on higher volume
 
Quote from johnpinochet:

Even though one could argue I am exiting all positions prematurely, per my view of the chart, if one were to enter on a break of 110 22, the potential target is 110 14 to 110 12.

UPDATE
0822 CST The only mistake made so far this AM was to not exit all or most on the 0800 5 min bar and re-enter shorts on the 0805 5 min bar.
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Are you looking for "V" reversal here?

Luc
 
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