tag:blogger.com,1999:blog-973587304515257848.post854007301919084077..comments2024-02-11T00:12:56.047-08:00Comments on IN THE MONEY TRADES: (ZB) Adding to short position in 30-yr TreasuriesAnonymoushttp://www.blogger.com/profile/02083421527404780093noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-973587304515257848.post-43837033080764696922011-03-10T15:35:22.707-08:002011-03-10T15:35:22.707-08:00Jason,
I think that oil was down for several reas...Jason,<br /><br />I think that oil was down for several reasons. One was due to the fact that this was the first "real" pull back from the parabolic move oil has had the last month since the middle east shit hit the fan. Oil was very overbought. Other news out this morning was the downgrade of Spain debt witch has restoked debt concerns. China had its first trade deficit in 11 months, the largest in 7 years. Fears of slowdown of the asian economy. And lastly and less important but still relevent was the step back jobless claims took again this morning. <br /><br />With all this I think that traders were jumping back into bonds modestly, selling equities, and bidding up the dollar. <br /><br />I was not watching bonds specifically but I did see that they were up on the day. Energy took a pretty big turn late in the morning when headlines came out that Saudi police had shot at protestors. <br /><br />Oh and I almost forgot the more important point that I originally wanted to make. I have noticed a pattern since the middle east tensions began, traders sell or take profits on Thursday only to get long again on Friday bidding prices up into the weekend...due to the fact that there is still so much uncertianty out there.Dominicnoreply@blogger.com