Bond Trader 2006

Other than a bill announcement and a couple of auction announcments we are done until 1200 CST when this report will be released:


NAHB-WF Housing Market Index

According to market commentary, that is the report to watch today, although we've had some fun up until now.

 

0838 CST Exited trade at breakeven 109 29. I missed the chance to get out at 109 26 and decided to hold.

 

Looks like 110.03-04 good resistance. Might be worth a look there.

 

Agreed, I have an order to sell 1 ZB 110 01 to start.

I'm going to get up for awhile. I've set my alerts.

BTW, we are looking at printing a possible positive 30 min bar on the ZB.

UPDATE
0901 Done. We printed a positive 30 min bar on the ZB. The 3 min volume on the ZN is low compared to earlier activity.

 

This confirms what I posted previously ( last week), now the SNIFFING FOR STOP LOSS ORDERS IS DONE:


The bond market is off this morning, in part because of the disappointing data on net foreign purchases. However, as one trader noted, "this is just an excuse" for selling, as the data is for July. The market rallied in August, and the August data could go the other way. The "market was so overbought that some selling on any news was likely." - Breefing.com

 

Short 1 ZB 110 02. I had a IB stop limit in. Sometimes they fill me at the stop, sometimes at the limit. This time I got filled on the limit.

 

Lance,

Would you comment on the 3 min ZN chart with volume starting from 0800 to 0915?

I'd like to be sure I understand what you elaborated on last Friday.

 

Actually from the low until 0915 would be fine and is what I meant to ask.

 

Closed contract for 1 tick profit. Done for the day unless something spectacular comes up. May miss a 500 USD trade ( i.e. take a new 4 ZB trade x 4 ticks) but other priorities are calling.

 

The 3 ticks bar ( 3min) from 109-29 to 109-26, 7500 volume, followed by 6 bars of lower volume testing 109-29 resistence. At this point we ask ourself, what do we have to see if this 109-29 is broken? Higher volume!. The 7th bar is BEARISH , but it breaks 109-29 with higher volume followed by the 9th,10th BULLISH BARS with HIGHER VOLUME, a CLUE than the prices are going higher to next key resistance. So the best entry would have been at 109-29.