$TLT . 110 PUT.


I believed TLT is overbought in the short term.

Looking at the parabolic rise and that it may break the support, I have a speculative Sept 110 PUT on TLT.

My bet is that it will break support within 1 week.

However, given the volatile market conditions and the bigger economic concerns from Europe, Libya etc, I am keeping a close watch on it with a tight stop lost in place.

Note: This is a speculative move on my part. There is no confirmation from the chart that TLT has turned bearish.

Commodities S&P500

$SPX, $GLD, $SLV. All up tonight?

Just thinking out loud tonight.

The index opens on strongly during pre-market with more than 1% gain.

At the same time, I am also seeing that GOLD ($GLD) and Silver ($SLV) is up as well.

Shouldn’t these be moving in opposite direction?

All of a sudden the issues at Libya does not seems to bother the market anymore. Gone also are the issues in Europe.

Keeping a close watch. May have to cut some loss tonight on my short positions.