Bears In Control

Ali Cagdas Tuna Futures TraderAbout Ali Cagdas Tuna

Ali Cagdas Tuna is a futures and options trader based in Turkey, currently employed at Alp Consultancy. He has been trading since 2005 and during that time has had the opportunity to work with multiple CTAs.

 

March 19th, 2012

‘June T-Bonds (ZBM2) settled at 136*14 down *03 ticks.Total estimated volume has been 357.047 and open interest continues to decrease 560.104 down 16764 contracts.

Bonds trading has been volatile since FOMC rate decision.Following the break of 140 level we saw ZBM2 traded at 135ish on Friday’s session. But we’re seeing price consolidation above 136ish for now.

As you might remember we’ve been warning about the decline in Open Interest during the past weeks.Remember that OI has not increased with price.ZBM2 fell more than 4 full points in the week and OI down 29k contracts in the same period.This shows huge money flow out from long term treasuries to other markets ; especially equity markets which we’ve been writing since the first day of bondmoves.com .

Economic Calendar ;

Housing Market Index 09:00 (Exp:30 Prev:29)

Auctions;

3&6 Month Bill Auctions at 10:30

Technically ZBM2 holding above 136ish.Today’s trading expected to be a quiet one compared to previous 3 days.Support levels today 136*17 and 136*00 .Resistance levels 136*29 and 137*09

30 Year Treasury Bond Futures Chart

 

30 Year Treasury Bond Futures Chart

 

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