Buy TLT at Mondays opening to cover our shorts as well as enter a long position.

Todd Butterfield Blog 0 Comments

The TLT chart is interesting for Monday.

You can see by the blue arrows that the OP and Force have trended down in the last week but price has held firmly.  You can also see by the blue circle that the Technometer is now oversold.

I would think these conditions would lead to a rally this week.  We want to cover our short position from $125.08 taken on 8/7/17 at the market, as well as take a long position at the market.

On new position use a sell stop at $117.44.  If TLT does show some strength early in the week we will raise our stop quickly to breakeven.

 

 

 

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