Bond Trader 2007

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Long 4 ZN at 108 040 at 1028 CST. Looking for 108 060 at a minimum as my first target.

Couldn't post earlier as I was in the middle of updating this journal. Sorry.

No stop.....:cool:
 
Possible target of 111 26 on the ZB's today.

I wouldn't mind buying at 111 16, but the trade it would only be for smaller size. The ideal buy trade is long gone.
 
Quote from johnpinochet:

Long 4 ZN at 108 040 at 1028 CST. Looking for 108 060 at a minimum as my first target.

Couldn't post earlier as I was in the middle of updating this journal. Sorry.

No stop.....:cool:
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1041 CST Sold 4 ZN at 108 060. Now that is more like it!

I met my minimum profit target for today between this, the first trade, and the small loss.

Done for the day! Good trading!
 
Quote from johnpinochet:

This time around, I'll looking to exit all around 111 01 or 111 00. I'm not confident on a 110 print anymore. It may still happen, but I'm not loading up anymore.

This will probably be my last trade of the day, i.e. shorting for a re-test of the lows.
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If you can master the thoughts and whatever else is occurring internally right at the time of the above post as well as the post immediately after it, I think it is safe to say you will be the master of a "V" day / turning point. I did not master that yesterday.

Quote from johnpinochet:

04-23-07 03:31 PM

0932 CST Out at 111 05. I don't feel the same level of confidence as before. The hold of 111 01 is puzzling.

Standing aside for now. I've already met my target for today.
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Summary for yesterday.

First half of the "V" went like clockwork. Nice profit. Prescient exit at 111 02. Second short at 111 03 was legit. Standard retracement short. Had I left the 111 06 on I would still consider that legit. Here is where the change and reversal should have occurred. At the time of my second post quoted above, I should have been watching and noticing that a reversal was imminent. A buy as late as 111 10 would have been in order. The ideal entry would be 111 07 to 111 08. The upside target would have been 111 18 to 111 19 at a minimum per numbers posted last week.

There are a variety of reasons to be aware of a possible reversal. Many have been discussed before. The main reason for a reversal yesterday in the AM is that it was a no news day. In particular, important end of the month numbers are due out later this week.

In conclusion, my statement at the beginning of trading that selling at 111 13 was probably the trade of the month, equally applies to buying at 111 03. The first was the closest thing to a sure thing in trading, and the second was, well, a close second. :p
 
0912 CST I don't think the ZB will come down much. I'm going to hold on to the ZB's as I'm looking for at least 112 01 at a minimum. I think the move is on for today to print 112 at some point.

I think I'll buy ZN's soon at 108 120 or better.

0916 Order in to buy 8 ZN 108 115.
 
Quote from johnpinochet:

0912 CST I don't think the ZB will come down much. I'm going to hold on to the ZB's as I'm looking for at least 112 01 at a minimum. I think the move is on for today to print 112 at some point.

I think I'll buy ZN's soon at 108 120 or better.

0916 Order in to buy 8 ZN 108 115.
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0951 CST Never got filled on the ZN's.

I exited the ZB's at 111 28 on a hunch.

As of this post, I would consider buying just one more time. If we can't break the highs the third time around, then I would say a sell might be in order. I probably will just do this one last trade somewhere around 111 20 to 111 25.
 
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