Position Update
May 21st, 2009 11:22 am | by John Jansen |I sold 600 of my 1000 IEF position and have 400 left.
I am long at 92.95 and sold at 93.29.
The bond market failed to attract even a modicum of a bid and that motivated the sale. I will hang out for a short while with the balance. I hate to “hope” for uptick but that is what i am doing for now.
Position Update Update: I sold the balance at 93.10, unfortunately. i still eked a few shekels on the entire morass.
If there is ever another uptick I am a seller.
10 Responses to “Position Update”
By FYT on May 21, 2009 | Reply
Wow the yield curve flipped. Anyone know why they are slamming the treasuries?
By vol-trader on May 21, 2009 | Reply
its getting crazy now. good thing you got out.
By Chicken on May 21, 2009 | Reply
TBT has been on a tear today, due to the FED buying? hmm, is that how it works, supply disappears and prices fall while Treasury auctions result in higher prices?
By Kevin Mackey on May 21, 2009 | Reply
Breaking of resistance and the continued realization that more than $300 billion of our debt is going to be purchased.
Shocking that the government might purchase more. They don’t have a history of changing their figures, do they?
By Bman on May 21, 2009 | Reply
come on people – Geithner was asked point blank by a senator today referring to the downgrade of UK debt – he asked if S & P, Fitch, China, and others warning about excessive debt burdens here were all wrong and he was right. The long pause and body language was not very convincing.
By vol-trader on May 21, 2009 | Reply
what time was this B?
By John C. Lately on May 21, 2009 | Reply
John,
My guess is we go back and test the trendline that will be your out.
JCL
By Mike Larson on May 21, 2009 | Reply
Bonds sell off. Dollar weakens. Gold shoots up to day’s high. All at the same time — and on the same day we get a U.K. ratings outlook change and a New York Times story about how China is getting choosier when it comes to U.S. debt purchases. Things that make you go “Hmmm” indeed.
By Bman on May 21, 2009 | Reply
Vol – they are on recess for a vote right now, but my best guess is about 45 min. to an hour ago.
By Bman on May 21, 2009 | Reply
As “Dandy Don Meredith” used to sing on Monday Night Football – “when the party’s over…”