Bond Trade Update:

Ok gang, the long position in the bonds is looking good…………

1) Stocks faltered near the end of the day today…………(p.s. someone said they are a “fat pig ready to roll over and die”……and I think whoever that guy was, he’s got it right!

2) Bonds stabilized overnight, even as stocks rallied in the globex session

3) Bonds solidified their bottom during today’s session, and close above 115-10……..and traded above 115-16 in the afterhours session already this afternoon…..

4) Bonds rallied after the auction

5) Year-end dumping of bonds subsided today and prices reversed to the upside

So, the potential that we will reach our profit objective of 117-15 is looking very positive……..a bounce from this kind of oversold condition should generate a bounce of 2 points or more!

All the best to those of you with the cojones to have bought the long bond over the past few days…………..odds are very good that you will be rewarded soon!

- fishhook

Related Posts:

• Japan is down tonight…………what will happen in the U.S. tomorrow?
• We had a bit of selling today…………what next?
• S&P Outlook Going into 2010 - Jan 4-8
• Bond Trade Update:
• OK, gang…….let’s prematurely recap………..

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