As a follow up to the recent post on TLT and long term US bond prices, I am going to post a new trade on TBT, which is a 2x inverse bond fund. It should move approximately twice the percent value of TLT in the opposite direction. Those interested check out the TBT weekly chart or the TLT weekly chart. TBT shows a hammer/doji and then a bullish engulfing pattern as the last two weekly candlesticks.
New Trade:
Buy TBT with a market order Tuesday morning 9/7/10. The current price is 32.72. Place a GTC sell stop at 29.76 after entry.
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