Last +78- Now that down move is underway, expect to see +68.5 as first objective. Re-assess to see if there is scope for a much bigger move then
- +89.5 should be the contract high for this spread on a weekly closing basis. Would take a huge turn in fundamental outlook to take this out now
- Added to short at +83.5 earlier tonight. Original trade on since 03Aug09.
- Interest rate spreads do not change direction easily. When a new move is evident, it is usually trending and indicative of new interpretation of fundamentals. Mind those Risk On positions!
02 September 2009
ED Spreads : Downmove in Motion
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