Change of context…clown show over… for now.

Posted on Jan 04, 2013 by in Letters

TLT is a bag full of technical events. First the long term trendline from July 11 is broken. Second, a toppy formation as defined by the horizontal line looks to be fulfilled. Third, a short term trend line is broken coming off the top formation. Fourth there is a downgap. The last horizontal line is support. Break that and the downtrend is for sure. We have been short here with TBT for awhile and think it a worthwhile trade. As always a stop of 5% is in order.
Here is a close up:

This is only a preview. You must be a subscriber to access the full text of this letter.


Choose a Username*
Email *
First Name *
Last Name *
  * Required

Tags: , , , ,


You must be a subscriber to view and submit comments on this post.