Bonds - Downside Target Reached

Last month I posted about a trade that was setting up in the bond market which was suggesting that lower bond prices were about to unfold. Since that post TLT has sold off and has reached my downside target of  98.00.  This level coincides with the lows from last August.

I still feel there is more room to the downside for this market so I will be patiently waiting for a technical sell signal to short the next rally. As always, I'll post my observations if I see anything significant take place or if a trading opportunity presents itself.

You can read my original post from last month by clicking here.