Friday, October 19, 2012

Sold the top of the first inner bell curve

So, I just sold i unit of ZN @ 132-06, and my plan is to cover when we get back down to the mode @ 132-01.  However, if stocks make an attempt at a leg higher (lets say ES above 1453) then I might wait for ZN to move towards the other side if its bell curve, which would be 131-28.  The market has spent a lot of time just sitting in this price zone the past 2 days.  This should give confidence to either a large seller or a large buyer that they can initiate a position with good liquidity.  Will be important to watch for that over the next couple trading days.

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