Monday, August 13, 2012

Thats enough ZN sideways action for me...133-24 should be the magnet for both sides of today's market

2.5 hours have passed...validating 133-24 as the days high mode, and invalidating the theory that large levered buying below the market will propel bonds to a new trend.  So, what does that mean?  It means that, for now, 133-24 should reign in market volatility at least one more time (so long as stocks don't implode below 1388).  This would make for a healthy 16 tick range in ZN if it happens.

2nd day in a row 133-24 has asserted itself...will there be a 3rd?  Tune in at 11....

Given today's lack of enthusiasm and dull summer volumes..this might be a trade best expressed during the overnight session.  Looks like i might be taking some Ambian in a couple hours, so I can be awake for the night session.  Who says traders don't make sacrifices??

govttrader out....

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