(10-14-12) Special Note -- if the boards lift early Sunday night, traders should not wait and get short all the boards.
Despite continued deterioration in the economic news flows throughout last week, we did see better than expected Chinese trade data over the weekend. This will likely prompt an overnight blitz in the markets in Sunday night's trade, setting the boards up for fresh shorting opportunities in Monday's day session, mindful that 15 out of the past 17 Mondays have been lower. We are seeing technical selling on Sunday nights and Monday mornings. We would expect several Long Bond contracts, which we traded from the long side all of last week, to fall back in Sunday night's trade. We would be looking to buy again on a dip back to 149.00.
For the rest of this column of commodity futures trading recommendations, go to independent trader Al Martin's website Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC.