11 February 2011

UST-Bunds Spread : Initiated Widening Trade

  • Finally this has pulled back to +38 where I have gone long Bunds/short UST 10 years. +FGBLH1 @ 122.62 (3.29%) vs -TYH1 @ 118-13 (3.67%). Missed better execution yesterday as I was away at Resorts World.
  • Recap : Give up on weekly SHS top as it has taken too long and pattern looks damaged now. Focus instead on SHS bottom on monthly chart, objective between +55 to +60.
  • If I am lucky, the weekly pattern can turn out to be a SHS bottom too and targets the +70s. Need to close >+47 for that to come into play.

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