Trading Recommendations for Thursday

By Marc Nemenoff
27 August 2009 @ 10:27 am EDT

Financials: Sept. Bonds are currently 12 lower at 120'13, the 10 Yr. Notes 10 lower at 117'22, the 5 Yr. Notes 5 lower at 115'27 and the 2 Yr. Notes 1 lower at 108'19. We remain short the Bonds with a protective buy stop at 121'04. If the Bonds are too volatile for your trading objectives consider a position in either the 10 Yr. or 5 Yr. Notes. This morning's weekly Jobless Claims showed a decline in unemployment claims of 10,000 versus an estimate of 11,000. Second quarter GDP was down 1% versus expectations of down 1.5%. This showed push these financial instruments to lower levels. My near term objective for the Bonds is just below the 118'00 level. Longer term my objective remains at 116'00.

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