The TLT (20-30 yr Treasury bond ETF or /ZB, 30-yr T-bond futures) short swing trade has hit T3 hit for an 11%+ beta-adjusted (5.5% non-adjusted) gain. Consider booking partial or full profits and/or lowering stops if holding out for T4. 60-minute chart below.
TLT 60m Oct 7th
On an admin note, analysis & trade updates/new ideas will be light for at least the new few days as I batten down the hatches in preparation for yet another hurricane (Milton) which currently has us dead in its crosshairs with landfall expected Wednesday. Based on the current models, there is a slim chance that Milton (now a cat 3 & projected to strengthen to at least a 4) will not have a significant impact on Fort Myers & as such, there’s a decent chance I won’t have power and/or internet access at some point Wednesday forward. If so, analysis & trade updates will resume asap.
I had several alerts on breakdowns in some of the recently highlighted big gold mining stocks fire today which, if those breakdowns stick, should bring the GDX short trade down to the next price target(s). I will also follow up with a separate post on the UNG (nat gas) trade, which has pulled back to that blue uptrend line support following the recent hit & reversal off the T5 zone & bearish rising wedge breakdown.