Even Steven [w/ edit]

  • Post author:
  • Post category:Bonds

[edit] As per the NFTRH Trade Log a few moments ago…

9.13.19: Taking profit on 2nd TBT position (still holding 1st as part of the makeshift curve steepener w/ SHY for now).

Speaking of balance, I am finally even on my TBT long-term bond bear position. Buy #1 is still -10% but buy #2 is +12%.

Now, this trade was not originally undertaken as a trade for its nominal performance. It was originally taken as my own in-house curve steepener, offsetting the cash equivalent that spits out monthly income and has made big gains (for a cash equiv.) in its stand-alone price, SHY. After the last FOMC meeting my little steepener trade got hammered. Fuckers.

But ever plucky, I’ve held firm and now have a decision to make. Are the various bouncing reflation trades real (just yet) or are they Memorex? This picture sure looks like base metals and other members of the global bounce-a-thon we’ve been tracking. Aside from acting as part of my home cooked steepener, TBT is also acting as a hedge to some gold positions in the short-term, given that gold and Treasuries were tethered so well during the summer’s running of the emotional herds.


Subscribe to NFTRH Premium (monthly at USD $35.00 or a discounted yearly at USD $365.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas. You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Follow via Twitter @NFTRHgt or StockTwits.