The bonds have been weaker than I’d expected, but they’ll have a chance to reverse course today at the 119^29 midpoint of the downtrend shown in the chart. You can bottom-fish there with a stop-loss as tight as three ticks, but if it’s hit expect the futures to continue south to at least 118^22. ______ UPDATE: Bonds trashed the target, rallied for a bit, then returned to looking like hell by day’s end. The 118^22 target is in play and can be bottom-fished with a 3-tick stop-loss. I suggest using the mini-contract.
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