120/1/2026
Yesterday I said bonds were near or making a bottom. Today we got a first confirmation of that.
This is an hourly chart. The purple line is TBF, bear, the black OHLC are TLT a fund of 20 year bonds.
RSI at top came off its low, PMO at bottom turned up.TLT hit 763.76 as the low for the day and rebounded to yesterday's accidental entry by yours truly at 77.71. I had two orders at 77.31 bit TLT never got there. Should have placed an order a bout a buck lower say 76.81 but that is difficult to judge and this is apparently the end of the downmove in TLT.
I am going to add some call opotion, sellsome oputs, and add more TLT.
Nothing to report really in stocks, not much action slightly up.
Oil double bottomed at 89 and rose 2.72 today despite Petraeus assurance in the WSJ more oil is getting gthru Hormuz. Time to buy some APA, write calls or hold for a bit we'll see.
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