Tuesday, November 24, 2009

Strong 5-Year Auction

The trading is getting slow we are working a 3 point range over the past 2 hours.  There was a strong 5 Year Treasury auction and the market had a very small pop.  I don't expect any fireworks for the next 3 hours.  Fed minutes are coming out at 2:00 PM, but that's not likely to be anything spectacular.  Today seems like a battle of the bots.  Don't have a strong opinion on the rest of today's action.  Just watching and waiting.

4 comments:

Anonymous said...

ru still short

Market Owl said...

I covered a few hours ago, I plan on reshorting at higher levels.

Anonymous said...

Wow look at TAMB.

I bought that thing at 59 cents u know that.

Well anyways, I was thinking about doubling down on EDZ at this level.

I'm just really scared about this seasonality man.

I think I'll wait till after black friday to see how the retailers did.

Market Owl said...

After Black Friday I see a Black Monday. This market is teetering here and is setting to break lower at any moment. Most likely we'll break down next Monday.