I have been increasingly bearish on long-term Treasury bonds due to developing sentiment and Commitments of Traders issues implying a contrary bear play and also due to the fact that T bonds have popped to our original upside targets (when taking a contrarian trade in the opposite direction last December), which were roughly to the declining SMA 200.
But this post is about the Financials… which are also about Treasury bonds and their yields. I am taking a limited loss on the Financials short fund FAZ this morning because due to my developing bullish view on yields I am by definition a weak hand against Financials. Indeed, in NFTRH it was even noted the the Banks and Financials could set up as a buy if yields rise as expected. So, in the spirit of noting previous shorts closed for profits and losses, here’s another… closed for a loss.
It’s show biz. Win more than you lose and kill the losers as quickly as possible.
Subscribe to NFTRH Premium for your 40-55 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH, StockTwits, RSS or sign up to receive posts directly by email (right sidebar).