Shoulda, Coulda, Woulda

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Well it looks like the Spring bounce is running out of steam and pretty much at the levels I previously suggested.  Personally I’d attribute it to stocks unwillingness to tank.  Once they bounced, bonds seemed doomed in terms of breaking 2.3.  I wouldn’t start cliff diving here, but it’s a sign the range is still firmly intact and I don’t see how we could challenge a break lower until NFP or GDP, so there’s some real risk in floating now.  I wouldn’t chase losers here.  You should have locked already and if you haven’t I’d say take your lumps.  I’d be surprised if we bounce tomorrow without some data help.  I like locking here, but worst case I’d hold for a bounce tomorrow and if we don’t get it, cut your losses.  

Bulls and bears…

#justmissed #shouldacouldawoulda #stillbetterthan2weeksago

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