Recommendations 28/10/2009

By Marc Nemenoff
28 October 2009 @ 10:24 am EDT

Financials: Bonds are currently 14 higher at 119'18, the 10 Yr. Notes 5 higher at 118'03, the 5 Yr. Notes 4 higher at 116'02 and the 2 Yr. Notes 2 higher at 108'21. Yesterday the market rallied 1'12 off of its low of 117'27 on a flight to quality as commodity and equity prices fell. If you continue to hold the combination of short Bonds and short the Dec. Bond 116'00 put use an open order to cover the short 116'00 put at 15 points (currently 30 points). If you are able to cover this position at the recommended price, I will be looking to sell the Jan. 115'00 put against current short Dec. futures on any sharp breaks.

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