I mentioned on my show yesterday that I had scaled back on my TLT puts, wanting to scale back in at better prices. I also sold my entire TBT position at a nice profit. Well, good call on both of those choices, as bonds are rallying today. I am waiting for this gap close, at which time I will COMPLETELY PIG OUT on bond shorts.
Longer-term, by way of the /ZB continuous contract, you can see how this medium-term resistance zone (dashed red line) is within the much bigger bearish pattern (enormous tinted area).
