Tuesday, July 7, 2015

TLT / TBT Follow Up

I've been in this TBT short position (essentially a 2x long TLT position) for a while now. I still like the TLT trade...
 The larger picture 30 min chart still looks great.

However looking at this daily chart, the last 2 daily candles look pretty darn weak here and on gaps.

I've been watching some weakness developing in intermediate charts in the near term like this 10 min

This 5 min shows it even more sharply.

 As does this 3 min.

But when we get to the 1 min timing charts, that's about as far as I want to go and you can see the divergence today.

In the end I exited the TBT short at just about breakeven so I'm still liking the trade, just after a pullback and some near term chart work improves.

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