Sunday, October 9, 2011

New Trade Order - TBT

The TLT etf has pierced its 2008 high 2 out of the last 3 weeks, but closed below it both weeks. The technical picture is very overbought and the pattern is mature. A tick below last week's low, which is not far off, would be a nice stochastics sell signal on TLT.

Given the overall context here, I think this has potential for a nice sell off. So I am going to post an order on the inverse bond etf TBT.

New Trade Order:

Place a GTC "stop" order to buy TBT at 20.60. So if price rises to 20.60 or higher this will trigger a market order entry. Place a GTC sell stop at 17.60 if filled and for position/risk sizing.

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