Stocking Stuffer

Hooper put a little something under the tree today in Bond Futures. We shorted 155.23 on the weekly pattern. The stop is 2 points and the objective is 149-10. Standard Op. is to cover 2/3 at that point and adjust to new pattern on the remainder. Its a great gift, because we love to sell. The daily pattern turns negative at 152-19 so more selling there for the fun of it. The daily - which, to be clear, is not in a negative configuration so not confirming the weekly (an odd scenario) - has an objective of 148-30. If the downside unfolds, the daily and weekly would be back in alignment.

Did I mention I like to sell?

SP futures have a daily pattern buy level of 2007.57 (Hmm look at today's low) looking for 2043. The contract has been slicing and dicing through the "trap gap" from 1997 and 2007.

Leave a Reply

Your email address will not be published. Required fields are marked *