Morning Commentary for Tuesday Jul 27, 2010 – ZB trade

by Tom Nunamaker on July 27, 2010

E-mini S&P 500 1111.00 +1.50
EUR/USD 1.2972 -0.0016
30-Day Fed Funds 99.8175 0.0000
Gold 1166.8 -16.3

US Dollar continues to slip against other currencies.  Consumer confidence slipped more than expected  but the markets don’t seem too concerned about it.   Looks like we’re waiting for Durable Goods Orders report tomorrow and GDP on Friday.

Bonds have been selling off recently.  Looks like the recent high could hold.  Therefore, I’m going to put a bearish paper trade on today.

ZB Daily Price Chart

ZB Daily Price Chart

ZB Long AUG Put

ZB Long AUG Put

Download Trade in PDF format

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