Here is the Booming Bond Market
We exited our short term long trade from the service today on the opening for a decent profit, marked on the chart. Just a brief word about systems trading. Today's bar pattern had a very bullish slant to it, and yet we had a profit taking order for the opening. Why exit if the odds are strong on another good up day?
Certainly someone can use this type of discretion in trading and in this case it would have payed off. However, I choose to follow my rules strictly which is of immense help during down periods. There is so much emotion tied to trading that removing as much of it as I can is very helpful to me. This stops all of the second guessing.
We have broken above the red line indicating the larger picture last remaining downtrend line. I still remain skeptical of this rally from a larger view, but for now the short term trend is up and that is all that matters. The trading system has done nicely navigating this market over the last few weeks, so for those of you taking all of the trades you should have been nicely rewarded.