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TAURUS COMMODITIES
133 W. Boscawen Street, Winchester, Virginia
(October 31, 1997) FINANCIAL INSTRUMENTS: EURODOLLARS–Looks like this may be another one of those “long-term” positions, where so often our trades in this market last much longer than for other markets, especially the other financials. Traders have been ignoring all other factors, including the recent economic reports, and have focused solely on the direction of the equity markets.
T-BONDS–Our stops are very tight here, a result of our break-even rules which so often we have come to be thankful for as a market trend has reversed itself. We're cautiously optimistic about these longs, despite the volatility in all the financial markets if for no other reason than anticipating a continuing flight to quality from abroad.
T- NOTES–With bank problems being reported in Brazil, the plunge in Hong Kong equities and the tension with Iraq, there are increasing reasons for investors to seek the safety of U.S. debt instruments. As with bonds, notes have their stops tight but if they hold today we should be able to begin locking some profits in tonight.
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