Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Treasuries on the Move


Treasuries on the Move
By Mike Paulenoff, www.MPTrader.com

The iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT) gapped to the upside this morning ahead of Bernanke's testimony, likely expecting some supportive news, such as the Fed intending to buy Treasury paper to foster lower mortgage rates. As of yet, longs either are disappointed in Bernanke's prepared text or are so uncertain that they are taking profits as the TLTs test prior resistance at 106.50/60. Whatever the actual reason, as long as the TLTs do not break and sustain beneath 104.80, my technical work encourages me to remain long.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!