Trading Recommendations For Monday, April 20, 2009

By Marc Nemenoff
20 April 2009 @ 09:36 am EDT

Financials: June Bonds are currently 24 higher at 126’03, the 10 Yr. Notes 13 higher, the 5 Yr. Notes 7 higher and the 2 Yr. Notes 2 higher at 108’18. The Dec. Eurodollars are 3 higher at 98.650. On Friday we were able to cover short positions in the Dec. Eurodollar at or below the 98.610 level (the low was 98.595). We remain short the 2 Yr. Notes and/or the 5 Yr. Notes and will take profits if the @ Yr. Notes trade below the 108’12.0 level. If you went long the Bonds in the 125’26 support area use a protective sell stop at 124’13. Near term resistance is currently the 126’29 area and longer term resistance 128’04. For those of you who are short term traders I would recommend taking profits from a long position ion Bonds above 126’17. I remain on the sidelines in the Bonds.

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