Wednesday, October 17, 2012

Quick Recap - good housing starts number gave us the pop we were looking for

No, I didn't predict that ES would trade above 1454 (1454.25 so far)...i just knew that if ES traded up to 1454, that i wanted to buy UST.   So, using ZN, i bought 132-13+, and i'm targeting 132-19+ (initial VWAP) or 132-22 (initial mode) to take profits.  I was bidding 95-10 for the 30yr bond, but 95-12 was the low (so far) so no joy there.  After looking at the curves (5/7, 7/10, 10/30) it appears that 10's are a little rich recently, so i'm putting my longs in 7's or 30's.

govttrader out

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