[RT] J-Hook on the Bonds

["t-bondtrader" <t-bondtrader@xxxxxxxxxxxx>]

While it is still very early in the trading day, 
when the bonds gap up at the open and then broke back through yesterday's high, 
we started to see the formation of a J-Hook 'into new territory' and that is a 
portend of lower prices.    But, of course, the day has yet to 
conclude...   it could all turn round and the J-Hook disappear as Ben 
suggests will happen.
 
Meanwhile, following the price action and the 
breaking back through the line put me short, with the first target 102^30.  
If we don't bounce then or on 102^27 the next target must be 102^19.  If it 
comes back to the line, then I join the longs on a break of the intraday 
high.  
 
However, an end of day J-Hook, with a decent sized 
bar (like my second target!) would suggest a significant reversal and I suggest 
we will all be measuring the retracement.  But more Gore could produce 
blood and gore - but a bushy tailed fox....
 
Take care...
 
 
Bill Eykyn
 






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