Thesis/thought:
After latest JPOW presser, what if people start realizing that hawkish FED means serious shit, and as result inflation will break....along with some else in th economy leading to....delfation??
Bonds is definitely not a safe asset in inflationary environments, but they are in recessionary ones...
What if people start positioning that way??
-- Got long Tier 0, risking $96s, 2xATRs=$2 below recent low=$98
-- expeting to reclaim $100, and start holding above...Buyers need to step up and show some demand if thesis holds true. Will look to add if we start holding clearly above $100, w/o attempts to test recent lows
-- 1st target 104s, then will re-evaluate
06-28-2022
-- Added back the 20% I sold into $101.5-102, stop for the add at $99, tighten stop for rest position below recent low $98s
07-01-2022
Into 1st target $104 area. Sold 40% of main size here. Bonds have a bid...for now at least.
Let's tighten stop for 50% of size below $99.5s, rest below recent low $98s.
07-12-2022
Reduced a bit more ahead of the CPI print tomorrow.
07-20-2022
Not moving higher. Down to 20% size here. Stop $99s
08-01-2022
Down to 5% remaining size in this trade, with updated trailing stop $101.5s, & next target at $107s
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2022-06-16 10:57:27 | IEF | buy | $99.226 | long |
2022-06-22 09:33:48 | IEF | sell | $100.790 | long |
2022-06-23 09:32:00 | IEF | sell | $101.585 | long |
2022-06-23 09:32:03 | IEF | sell | $101.580 | long |
2022-06-23 09:32:17 | IEF | sell | $101.610 | long |
2022-06-28 09:47:56 | IEF | buy | $100.394 | long |
2022-06-30 08:11:55 | IEF | sell | $101.990 | long |
2022-06-30 10:03:03 | IEF | sell | $102.056 | long |
2022-06-30 13:44:34 | IEF | sell | $102.465 | long |
2022-07-01 09:13:35 | IEF | sell | $103.240 | long |
2022-07-01 15:38:47 | IEF | sell | $103.315 | long |
2022-07-12 11:41:12 | IEF | sell | $102.825 | long |
2022-07-13 12:04:10 | IEF | sell | $102.613 | long |
2022-07-20 12:03:58 | IEF | sell | $101.855 | long |
2022-07-22 09:37:19 | IEF | sell | $103.984 | long |
2022-07-29 11:24:19 | IEF | sell | $105.331 | long |
2022-08-01 10:04:53 | IEF | sell | $105.160 | long |
2022-08-03 10:15:41 | IEF | sell | $103.575 | 0 |
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