TBT Long-Term Down Trend Broken, Adding 3rd Position

 

TBT is the ProShares UltraShort 20+ Year Treasury ETF.

In the charts below we see a very long-term trend of support and resistance being broken in bullish fashion:

We'll add a third position of TBT when it trades above $35.70 which is the November high. 

When stock markets drop it's common for cash from some of that selling to flow into treasuries purchases in which case TBT would go down, so it could take quite some time yet before treasuries plunge in earnest which would be commensurate with rising interest rates.  However we're comfortable adding positions as we go along if the situation warrants it, as it does now. 

We will set a sell stop to close only this 3rd TBT position at $32.95 which is just below its low of 2017, and we'd keep the existing two positions open in that case. 

For background on our TBT positions, please see:

TBT and SJB Update, October 26 2017

SJB Update, December 19 2017

 

 

 

 



We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.