I have double digit gains in yesterday's TLT November Put position, typically I'd be taking them early on early gap down momentum, but since they're November and since I think a dip in TLT would be essential to a pop in the market, I decided to hold out on these for a bit longer. The 30 year Treasury futures are in line with this decision as well as TLT.
30 year Treasury Futures on a 30 min chart with excellent up trend 3C confirmation and of course the negative from yesterday that we had to just take the leap of faith with and it paid off.
I'd like to still be long TLT closer to $100-$102, but one bridge at a time.
If we got a pullback in to the gap area in the next day or so, I'd consider TBT long, TLT Puts of course are still available, but I think getting them with the element of surprise yesterday was ideal as they had a significant discount.
TLT 5 min with the gap (yellow) and intraday leading negative
TLT 15 min cycle, this isn't a distribution event in my opinion, but rather rotation which would suggest again the market move higher, but not in an accumulation event, just a rotational event with a specific purpose as you know.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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