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Bonds- 6th day of bounce


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Bonds about six days back had been cited as a possible buy area at 150.10. This happened on a trendline breakout to downside and as you can see they took out the July low by one tick. those are nice low risk setups and while I posed this as a make of break type area we did in fact hold and this is how the action reacts. We just climb higher and are up four full points higher from two Fridays back.

This is one of those olive buys that you can see on the chart of which there are two. This was also against the 3% yield area. 155.02 seems to have several areas as the next target area.

We do have the petro complex that caught fire to upside which shows to me that markets cannot assumed to always make sense in the short term. Lower interest rates with some commodities going higher? I say you trade markets at levels with clear and pre-determined risk stops and forget making sense of these markets since we can never know all the facts but the market does.

Bonds-OLB15010-6days

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Alan R. Palmer

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Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

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