OI is up, strong volume, late day buying - Lower yoelds here for a while is the probability. That said if the next two days data conflicts with current perceptions I would expect the news to be faded and the overall result is unchanged over all or slightly higher. If equities continue to fall maybe the inverse correlation will pick back up and yields will continue to rise based on that. Or maybe Asian central banks will keep buying trying to keep the dollar up? Possible buying opportunity?
The Bond market is forecasting economic weakness while the stock market is forecasting economic strength. Given the divergence, I think the bond market is a more reliable leading indicator of economic activity.
I'm in at 112-03. Should I take profit now? That's one of my longest hold ever! (Note: This is on ZB: 30yr minis) For the ES and YM I just do pure daytrades. This one is making me feel a little nervous since it's pushing so hard now...
Bonds are near Jan-Feb 2000 levels for stocks; not far off from a top. Think Nazz 4500; before the 5100 blowoff top. Close; dollar drop will see to it. Just think bond bull born in 1982? 21 years of rising bond prices coming to an end? Easy bond bux made IMO; crumbs left for speculators. Good luck, David
Momentum is on Your side Trader99. Ride that Bond Bull! The market will tell you when its time to get out. A trailing stop might be a good idea.