Friday, June 26, 2009

Quick Opening Trade - TBT

Re-enetered the TBT long at 50.94 this morning. Think treasuries are overbought - will be willing to swing this if it can close 40 cents or more green today. Tight stop slightly under the opening morning low 50.65. Update - giving the stop a little more room to 50.49 as I just think the UST rally will stall. If I am wrong I will go into the penalty box on TBT (I'll explain later). Update: Kept the position on over the weekend as it did not hit my stop. Moved my stop down to under $50 for this swing.

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