Bond Trader 2007

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Talk about a do nothing market. OK, my bias is short. My thoughts are we will head lower. I'm going to re-enter my 110 18 short if I can. I'm going to continue to short all the way up to 110 24 on the high side. I'm going to be cautious for the 0900 CST report.

That is it from me for now.

FYI, I went ahead and sold 2 ZB 110 17 to get in the trade. This is a test the waters, type of trade. I'm looking to go up to 6 short initially.
 
Cancelled the ZN trade and went short 2 more ZB's at 110 17. Holding for now.

Unfortunately, the Dow has been dictating a lot of the short term activity of the bonds. Bonds appear to want to go down to 110 13 or lower but they will stay here at 110 16 to 110 19 for awhile. If the Dow firms up again the way it did yesterday, I think 110 13 in the ZB is a given today.

0850 CST If I can get 3 or 4 ticks right now out of my trade, I will exit prior to 0900.

0856 CST I have exits in at 110 14 110 13 and lower.

0904 CST Still holding 4 ZB's. Looking to exit 2 at 110 13 and rest lower.

0905 CST Out of 2 ZB's 110 13. Holding for 110 08 or better on remaining two.

0906 CST Exited remainder at 110 12. Looking at the volume and path taken, I think this was a stop play. By this I mean we could reverse very quickly. In the past, I would have sat tight for lower prices, now I think it best to be thankful and move on.
 
0913 CST Something to consider for today and next week is that we've not moved much and in fact have moved down on reports that are in my opinion bullish.
 
I'm going to go with a target of 109 27 at some point today.

0928 CST
I'm looking to short the ZB's again anywhere between 110 10 and 110 13 for a trip down to at least 110 08 but hopefully to 110 00 and lower.

OK, I'm short 2 ZB 110 10 and a little later I shorted 4 ZN 107 105.

I'm looking for a minimum of 110 08 on the bonds, with a solid target of 110 05 followed by 110 00.

I'm looking for 107 085 followed by 107 060 in the 10 year.
 
0935 CST out of 2 ZN 107 090 and 1 ZB 110 04.

0938 CST out at 110 05 and 107 095.

Not a bad day, thank God!

I may call it a day. I still have one final short coming up in a little bit.
 
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