Bonds Soar as Bunds Stabilize
by AL MARTIN (INSIDER INTELLIGENCE)
(5-17-15) The June Long Bond contract which we continue to trade on the long side on dips, as we had recommended in our previous week’s missive, continue to move higher throughout the week letting a 3 point gain on Friday only in 16 sessions, since the Long Bond contract first came on the board in 1977 as a 3 point or better 1 day gain had been had. We would look Sunday night for the Bonds to back down for a retest of 155 before buying them. However Bonds still have further to go and we expect the Bonds ultimately to move up to 157 to retest the contract highs.
The June Oil contract – we continue to sell on moves above $60 as we did throughout the week, covering on 50 cent - $1 dips. We are still short the Oil from Friday at 59.95 and would be looking for a retest of 59.00 to cover.
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* AL MARTIN is a market trader and an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. He is considered to be a reliable source of independent analysis for financially sophisticated and market savvy investors, as well as Insider Intelligence subscribers who want to understand the behind the scenes working of markets worldwide.