Keep Shorting the Spoos on Rallies
by AL MARTIN (INSIDER INTELLIGENCE.COM
(9-8-13) In late last week action we saw the Dec. Long Bond contract was once again a buy on the dip down to 128.12 where we had our standing buy orders. We were able to take ¾ of a point out of the trade by the close Friday. Bonds remained oversold due to "Taper" jitters. However we continue to trade the Bonds from the long side on dips. The Sep. Dollar contract continued to vacillate in the 82.00 – 83.00 range. However we still expect the Dollar to work higher, as we continue to short the Euros and Pounds on rallies above 1.32 & 1.55 respectively.
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* 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. He is considered to be a source of independent analysis for financially sophisticated and market savvy investors, as well as subscribers who want to understand the behind the scenes working of markets worldwide.