They bought later, just in time to watch prices slip.
By then, he said, the price of oil might have slipped lower after a decline in summer demand.
On Friday, they traded above $26, although the price slipped to $24.49 by the end of the day.
And after the results were announced, the price of the bonds slipped further.
Prices of most widely quoted issues slipped by about 1/4 point.
Prices slipped below $16.50 last week but have hovered at $17-$18 this year.
In September, the rally stopped with oil just short of $25 a barrel, and the price slipped to $20.90.
Then, when prices slip, you have oversupply in the market.
During the fourth quarter, the median price slipped by 8.7 percent, to $475,000.
Prices of Treasury issues slipped, with some investors taking profits.