Move stop on TLT up to break-even @ $113.70 Yields have been moving steadily lower (moving TLT higher), but this morning saw a sharp reversal when the stock market opened. It’s possible that the 20-year yield has reached a short-term cycle low here already. We believe that yields have farther to fall (yields fall, bonds via TLT rally), but if they do rally sharply here we wouldn’t want to take a loss on the TLT … read more Trade Update