Anyone see the SPIKE in the bond futures?!

Discussion in 'Trading' started by trader99, Jun 19, 2003.

  1. trader99


    HOLY COW!!

    ZN SPIKED up like 16 tics in 30sec!!! And then keep on pushing.

    So, Fed is going to cut it big huh? What's the news here guys?

    Luckily I've gotten out my shorts earlier today. And I was looking to re-short but then I didn't have time. WHEW! Because I saw YM tanked then I shorted right away. And didn't get a chance to re-short YN! Which was good! Else I would be screwed.

    It's WILD guys! Come over here and play! haha.
  2. 12:01 ET Philly Fed for June at 4.0 vs consensus of 4.1
  3. nitro


    "The reaction is much more enthusiastic in the futures pits: July fed funds futures now implying a 72% chance of a 50 bp cut by the FOMC next week (assuming a 25 bp cut as given), compared to a 42% implied likelihood before this morning's John Berry article in the Washington Post."

  4. Trading fixed income futures without having a keen eye on those economic report releases is a dangerous game. That Philly Fed report seems to sneak up on everyone since we are all accustomed to having the bulk of the reports either first thing in the morning or by 9:00 AM ET...
  5. trader99


    Yep, I know economic news is important.

    But I've seen this over and over. With enough experience, TA, market feel over time, you sometimes feel things before they even happen. Like I was about to re-short, but I remember that's NOT my EXACT SHORT SETUP. And I shold be disciplined and not go for a 2nd or 3rd tier setups. And I didn't and it works out.

    It's weird how the chart TELLS ALL! In fact, in the back of my head, I was saying maybe there would be squeeze coming up after a few down days. But I'm was NOT going to go long because the trend was still down. But lo behold, it shot up.

    Strange huh? If you trade long enough and you trust TA enough, no need to read news or anything. It's all EMBEDDED in the charts.

    Sometimes listening to news can be HARMFUL and CONFUSING because you start to FORM OPINIONS! And opinions can be COSTLY and WORTHLESS! The only thing that matter is price action and how the market is doing at that instant.

    that's the biggest thing i realize in trading!

    do you guys ever feel that way? That somehow the CHAARTS & THE TAPE tell you all? haha
  6. 0008


    Why the ES/NQ didn't react to the news so dramatically?