Bonds Away?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
December bonds
(
USZ1 |
Quote |
Chart |
News |
PowerRating) bounced off of the
.382 retracement and rallied to close well. The December Ten Year Notes
(
TYZ1 |
Quote |
Chart |
News |
PowerRating) also look poised to rally out of a pullback from highs. Look for
buying opportunities here but don’t overstay your welcome as we remain in an
event driven market.
The VIX challenged 3-year highs but
tailed off as the market reversed. This, combined with the reversal in the index
futures, suggests that the indices will continue to rally. Again, keep in mind
that this is an event driven environment. Therefore, for the nimble daytrader
only, look for buying opportunities here–just don’t overstay your welcome.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!