Yesterday's long bond auction was very interesting. I had been bearish going into it, went long some TBT, was feeling very good about myself until...
Interestingly, the momentum chart has converged, producing a slightly bullish signal.
Otherwise I'm having a hard time seeing much in the charts. Looks range bound to me. In fact, I ran the tick-by-tick data on the old 10-year from September to now to see where the most trading has occurred.
42% of the trades have occurred between $101.2 and $101.9, which translates to roughly 3.48% and 3.39%. I had noted the 3.48% as a major support/resistance point in the past, so this graph validates something I'd been seeing in the chart. Anyway I highlighted in yellow the price we closed at today, meaning we're right there in the thickest part of the recent range.
I wanted to put on some 10-years today thinking we'd hit 3.48%, but we just didn't quite get there. I'm going to be patient and wait for us to get back to that level, then play it from the long side. I might be willing to leg into it at a level slightly below.
6 comments:
Some people have a penchant for trading, not me, not now. Gasoline prices are soft & "sign posts" should validate one another.
nice post .it gives the strong idea about economy.wonder .it shows attractive features of economy.cheap cosmetics.
I think this graphics presentation is very useful to know how to share trading grow day by day.its really informative article.
Your article is very good.I like it very much.
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