Shortable Opportunities This Week
by AL MARTIN (INSIDER INTELLIGENCE.COM
(9-16-13) Last week’s action in the December Long Bond contract, created by a series of the best Long Bond auctions that the US Treasury has had in years, again creates fresh trading opportunities on the long side.
We were consistently buying the Dec. Long Bonds on dips down to 128.28 in mid-week trade. We accumulated a 32-lot position which we sold on our standing order at 129.28 in Friday’s trade action.
Bonds have now twice been turned back from the 130 area. However we think the Bonds will have further to go depending on Fed taper action in the coming week’s Federal Open Market Committee meeting.
The Dec. Dollar contract is also largely dependent on coming week’s Fed action.
We continue to short the Euros on moves above 1.33, covering on dips to 1.3270.
We also continue to short the British Pounds on moves above 1.5820, also covering on dips back to 1.5785.
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