Bullwinkle, I don't invest in Mutual Funds of any type, I feel I can be more nimble, as a trader, doing it myself, rather then having somebody else due it for me.
You mentioned that Zeev and I are day traders (Zeev definetly is a day trader) I am not a day trader, more a swing trader. If you'll check post # 235450, I try to identify the highs and lows of weekly cycles and short them down from the top, cover at the bottom, go long, then ride them back to the next top.
In the case of TLT, as Zeev pointed out, if an indiviual buys near a low, rides the cycle up to the next high, then writes Call options (and also buy Put options), they can profit from these cycles while receiving the 5.4% annual yield that TLT is currently paying.
Jim
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