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  • TLT Upside Not Over 0 comments
    Mar 12, 2013 10:14 AM | about stocks: TLT

    TLT Trade

    Let's take a look at the chart:

    (click to enlarge)

    TLT (top) and TLT Apr 115P on a daily chart. (source: Tradestation Securities)

    I want to emphasize several points:

    1. TLT support was briefly breached but prices are coming back into support ( failed breakout)
    2. TLT Apr 115 put downtrend was not breached - confirming this was not a "real" breakout
    3. Such "failed" breakouts are usually good inflection points

    TLT Trade

    Buy 115.45

    Stop 114.74 ( yesterday's lows)

    Target 120 -123 ( above last week's highs)

    Disclosure: I am long TLT.

    Stocks: TLT
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