wmeubank@ocp.kcmo.com
COMMODITY REVIEW AND OUTLOOK
195 Route 6A, Suite 6, Orleans, Massachusetts
(March 26, 1997)
FINANCIALS:
While a rate hike is nominally bearish to bonds, this hike was well
anticipated, and had little surprise value. With little reason to expect
that the hike is the beginning of a trend, I would view June bonds as a
buy in the mid-low 108.00's. Use stops of 32 ticks, and look for a rally
to 110.00-110.12. Resistance may develop near 109.05 and 109.16, and traders
might contemplate taking profits in that area. Option traders might buy
May or June calls. and if aggressive consider selling May or June puts.
M. Stephen Morgan
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