CURRENT POSITIONS (AS OF 03/27/00)
June 00 T-Bonds
June 00 S&Ps
The June bond contract
PowerRating) closed up two ticks after selling off earlier this morning on a stronger-than-expected February existing-home sales figure. A weaker stock market caused some bulls to come
out in the afternoon. I still suspect some more downside pressure in the next couple of sessions on the back of Fridayâ€™s momentum.
The June Euro futures
PowerRating) was down today on comments from
European Central Bank president Ernst Welteke on unlikely further rate increase in the near term. This caused the nervous bulls to sell but the strong ones are still around. I still see a bottom forming here and
Euros look good as a long-term investment.
Position : Flat
view the market as overbought and the Microsoft news was just the
The June S&P futures
PowerRating) was down today on the Microsoft catalyst. I view the market as overbought and the Microsoft news was just the fire-starter. Medium-term, I still view the trend as up,
characterized by sharp corrections in the future.
Position: Short at the 1550 area. Stops in at the 1575 area. Profit target at the 1520 area.
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