I sold 16 and paid 18. I had 17 as a level. I'm still short but pissed. These rallies though seem to be shallower and shallower. At least for now......
CME Payrolls Auction #2 , 122K up from 119.7, the setup for a big rally has began. Usually ( NOT always ), the expectations for a big number will increase steadily so that if the data comes out a little weaker then prices will hit all the STOP Loss Orders ( weak shorts) above the Key Resistance Levels.
Having learned my lesson from yesterday, I took my profit on today's 0950 sell when it was offered. I would have made a profit on yesterday's trade as well but my bracket OCA order never got filled. I had a sell limit at 111 04, and we only touched it briefly prior to yesterday's close. I should have made it GTC, but decided to hold overnight without the sell limit given the obvious weakness. This morning, well, per my post, I got stopped out. Today, once again, we had a 0950 cycle sell. This one was even better as 111 13 to 111 17 has been an important area for a while now. I put in a sell at 111 16 and made an OCA order stop at 111 20 and target of 111 10. We got as low as 111 08. Per my previous post, this 0950 cycle sell won't last long.
To give you an idea of how unusual this market has been, I recently ran a MACD neural network study on the 5 min ZB chart, and I came up with a system that has pulled roughly 3500 out of the 30 year, for the last 2 weeks. The above is very unusual for a simple MACD system. Single contract. Looking at the constant back and forth, up and down with no follow through, I was curious to see what a really simple system using an indicator that everyone knows and follows would do. Anyone could probably duplicate the above. Just look at normal trading hours and focus in particular on 0700 to 1200. It goes without saying that the above is unusual and probably won't last long, but it is worth riding while it lasts. Just like the 0950 cycle sell.
I agree. I saved my flattener/short today (and in fact increased all risk) by active trading around the prop position - which is highly unusual when things go against me like in rates today. Nobody really wants to rally the market - especially the long end - which is strange given how cheap it is (relative to short end). This sounds bearish to me. Anyway, there is likely not much going to happen within next 1 week unless we have some shocker on Friday (which I doubt).
I'm a bit a newbie about steepeners and flatteners; can you please explain the details of your '245x'10? Bernard