I'm a little late to the party here but TLT did actually rebound off its 200-day Moving Average at around 87 as shown on the chart above (click to enlarge) and as envisioned in a previous blog entry. Now is it a real bounce en route to bigger better things (as in new highs above 91) or is it something else (how about the right shoulder of a Head and Shoulder formation), only time will tell. But it can't hurt to be long here with a clear exit point below 87.