To update a trade which I announced on this blog and have been managing inside 12631, I sold the final piece of my TMF long (a triple-levered bullish ETF for Treasuries) at $46.61, from my original $44.59 entry to lock in the rest of the win. I had previously sold another portion above $47.
With Treasuries still in a strong downtrend, I do not want to overstay my welcome if I sense the countertrend rally’s momentum start to stall.
I’ll take the win down right here, even if it means I am leaving a bit early.
Hi Chess,
What was your target with TMF (or TLT)…TLT looks to have retested the breakdown at about $106 and then reversed again. But, were you expecting a bigger retrace higher? cheers
Mike, I could see a rally up to the declining 50-day m.a..