F, TLT (bonds)

2010-07-28 f

It looks like Ford has completed shaking out weak holders (and traders with stops, including us).  This is a breakout and we’d put a money management stop about 5% down.

More importantly TLT, which is the long bond ETF looks suspicious.

2010-07-28 tlt

This could very well be a double top.  We would be hedging and lightening up on bonds certainly on any significant close below the horizontal line.  And in fact we might even be taking profits in bonds anyway.

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