TLT and GLD have been the focus of my trading attention over the past couple weeks as I ponder the probability of relative support/resistance levels in both issues. Actually, GDX looks more technically appealing than GLD as a potential Long although my bottom fishing bids on GDX were not filled yesterday. TLT should be crumbling by all technical reasoning but we all know you can go broke quickly betting on a “sure thing” as the traders shorting SLV found out in March and April. The GLD short/TLT Long trade closed Wednesday at the close and a quick look at para C of the Pairs Analysis shows we are poised for new TLT Short/GLD Long entry with a likely excursion of 4 days. The trigger signal has not fired as of this morning but based on past excursions, the signal is fast approaching.
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