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Buzz and Banter



Brian makes a great point about amateur hour and the iShares Lehman 20+ Year Treasury Bond Fund (TLT). Interestingly, the chart gave a quadruple bottom sell signal on June 26 at 93.

Also I believe worth noting is that the iShares GS $ InvesTop TM Corporate Bond Fund (LQD) has fallen off its highs rather dramatically and has given a high-pole warning sell signal. I find it helpful to look at the relative strength readings (which are also plotted on point & figure charts) of these funds. The LQD relative strength chart has moved to negative for the first time since its reversal up in November 2000. The TLT relative strength chart has also turned negative for the first time since reversing up in March.

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