Bonds down, market up…

Posted on Mar 17, 2012 by in Letters

The sell signal is clearly evident in TLT here --power bar on a downgap.  We have been watching it deteriorate for a couple of months with the downward bias becoming more and more noticeable.  Now the signal is in and we will be shorting it next week.

Once again we are not believers in forecasting, but the PnF chart, that unemotional forecaster of the runes, has a prediction.

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