Re: [RT] More on Bonds

["Charles Moulton" <c.moulton@xxxxxxxxxxxxxxxx>]

Bill and Stig
    Don't know how the gif will come thru. 
Notice the Tnote and OEX approached September in an uptrend and then both turned 
down. In mid September they begin to diverge, with the OEX continuing on trend 
down and Tnote moving up. In mid October an attempt was made to close the 
divergence with OEX up and Tnote down however the OEX slammed into overhead 
resistance and stalled. In my opinion they are now poised to return to the 
downtrend lines. This will be a massive adjustment and it started in the third 
week of a new quarter as major trend establishments are prone to do. This is so 
because earnings season is over and positions can be established without being 
ambushed by an errant earnings report.Note that at major lows stocks and bonds 
bottom togeather as everbody runs to cash.
 
Also I am of the opinion that in general pattern failures 
produce much larger moves than pattrn targets. I guess this is so as covering 
and position reversal by pattern completion trades creates something similar to 
a short squeez. Maybe this same mechanism causes the frequent retouch of a 
broken trendline.
 
I am not a permabear, I just feel we are either at head of the 
stairs or edge of the ditch or top of the cliff .....
Lynn
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  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  <A href="mailto:t-bondtrader@xxxxxxxxxxxx"; 
  title=t-bondtrader@xxxxxxxxxxxx>t-bondtrader 
  To: <A 
  href="mailto:realtraders@xxxxxxxxxxx"; 
  title=realtraders@xxxxxxxxxxx>realtraders@xxxxxxxxxxx 
  Sent: Saturday, November 04, 2000 6:32 
  AM
  Subject: Re: [RT] More on Bonds
  
  Stig, have a look at the attached Gif, which I 
  have written up, rather than here.  By the way, I just cannot for the 
  life of me see your wedge.   What do you think of my failed bear 
  flag?
   
  Have a good weekend
   
  BillTo 
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