Update on TLT

I remain long TLT. I was hoping for a bounce so I could get out before the auctions of longer term bonds tomorrow and Thursday. It does not appear that I will get my bounce as today's 3 year auction did not go well.

Today's auction might be a blessing in disguise as it has set expectations very low for the coming auctions. I believe that we are now set up for a rally on anything but a disaster. At every major low in bonds the past few years there has been nervousness surrounding auctions.

1 comment:

Anonymous said...

Another day, another new high.