Thanks for all the emails, great ideas, and comments from all over the world. I appreciate all the positive feedback and comments regarding the fun many of you are having with the quizs! The majority got this chart correct and most shared it was too easy. Below is yesterday’s quiz.
CLICK ON CHART TO ENLARGE
Below is the answer to the quiz…
CLICK ON CHART TO ENLARGE
I already did a prior post on TLT earlier yesterday, yet I wanted to show TLT in a different light. It had created a rather sizeable and bullish falling wedge of late, with a long (bullish) downside wick at (1). Historically, this pattern suggests a two-thirds chance of TLT moving higher in price. If TLT would recover a fibonacci one-third of the decline, that could make us some more pocket change!
Currently I am long TLT with a 2% trailing stop.
Chris,
Any updates on TLT? Do you expect the bounce to continue into the mid 90s..say around the $95 to $96 area? I want to thank you again for sharing your insights with us.