Time to flip short $TLT again

benjihyam Updated   
BATS:TLT   Ishares 20+ Year Treasury Bond ETF
We made good money shorting TLT into the summer down to the initial target I had of $88. Then we flipped long again and I exited my longs earlier this month on Dec 7th. Now, as you can see from the first chart , we've come up against resistance and I think it's time to flip short again to retest the lows.

How low we go is TBD, but I think this move could go to at minimum $95 and at maximum retest, or barely sweep the lows.

I bought some puts yesterday with a strike of $97 for a few months out.

Note: There is a possibility that we get one more retest of the highs before it starts falling (if this happens, I'll add more to my position).
So far looking like this move is playing out.
Looking like we get to that $95 support on Monday or Tuesday. I'm taking gains and then buying calls in some individual stocks. Think we have 2 or so weeks of upside before I fully flip short.
Sold out of my put this morning. Will reenter if we get back to $100 area
Looking for one more retest of $97 before reentering my puts.


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