This is a tough call, but the pattern unfolding in TLT (20 yer Treasury Bond) is for a Wave 3 down that could be sizable...and profitable for Intermediate Term puts. TLT Daily Wave 1 down from Sep 2024 to Jan 2025 was about a 25% decline in three months. This next leg should be at least as much, but also being a Wave 3 is likely to be steeper and more dramatic. Next hard down day in Bonds will be our trigger. Early birds can start buying puts now, but our official stance is "Pending" awaiting confirmation. Jun TLT Puts TLT Target is low-to-mid $80's in 2-3 months, high $70's possible. The $90P has 3X to 5X profit potential. A 25%+ decline from recent high projects TLT to high $60's, and suggests much higher interest rates on the horizon. UPS: Textbook Wave 3 at multiple degrees of trend This can't be good for global economy. Wild card.
