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360-289-9441(March 12, 2000) FINANCIAL INSTRUMENTS: Financial markets look ahead to the new Freddie Mac and Fannie Mae 10-year futures and options. The Fed added $2.85 billion to reserves via seven-day repos.
EURODOLLARS--The June Eurodollar is playing havoc with trendlines and as one of students said: "it isn't really going anywhere, is it?" Not only that, as a market moves sideways, it takes itself out of the trading channel. An uptrend becomes neutral, for example--as an alternative method of analysis, new trendlines must be drawn, nightly, as you download your new chart. This is the case with June Eurodollar; it is clinging to an uptrend call, but its sideways movement is forming a parallel channel. Let a new lower trendline "break" be a signal to exit longs and let a new high above 93.50 signal a new breakout up.
Martin B. Miller
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