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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
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A Slow and Steady Move Lower

chessNwine Wed Sep 10, 2014 10:23am EST 9 Comments

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After a few failed bounces, Treasuries are pushing lower again this morning. It is still too early for me to declare that the great bond rally of 2014 is over, but for over two weeks now I have been short Treasuries again via long TBT TMV instruments.

As far as where we go from here, the TLT (straight-up ETF for Treasuries) daily chart suggests this moment is a big one, with the 50-day moving average (darker blue line) likely needing to hold to avoid a test of the lower Bollinger Band.

If, in fact, this is the end of the bond rally, then the downside momentum should build from here as bonds become and stay oversold for quite some time.

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TLT

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9 comments

  1. blarggh
    blarggh
    September 10, 2014 at 10:29 am

    Wow, this market just doesn’t want to drop. I am following you on that bond trade though.

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  2. UncleBuccs
    UncleBuccs
    September 10, 2014 at 10:32 am

    Chess, sometimes those turtles have a way of getting fast… https://www.youtube.com/watch?v=oS8UXVsIiP4#t=61 should automatically skip up to the 1min mark

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  3. Sooz
    Sooz
    September 10, 2014 at 10:36 am

    http://youtu.be/e2dDijEJC_g

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    • chessNwine
      chessNwine
      September 10, 2014 at 10:41 am

      One of my favorites, Soozy.

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      • Sooz
        Sooz
        September 10, 2014 at 11:26 am

        jeez, it’s been a tough trade, if it can hop over 58 we may get a swift move to the upside on the TBT.
        (SHhhh don’t tell anyone)
        yes..I am patiently positioned but have been forever it seems.

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  4. figesmalls
    figesmalls
    September 10, 2014 at 10:49 am

    End of the drillers here? How much more pain….?

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