I wouldn't hold this to long the more vol the more the decay
I try to trade it. I sould have baild yesterday after the pop but am looking for a little more the next couple of trading days. Overall the trend is up on tmv. On the last 7 year sale I got in to near the top so I held until the 10 yr auction 2 week later I road it down and then back up with 10% after it was done. I have been following the charts more since and stiking to what they are telling me. If it looks like the sock market dumps next week it could change everything even though the trend is up on yield.
Key thing with TMV is not to get greedy. Set a profit target and stick to it. Better a small profit than trying to go for a big win.
What Futures contract are you all using to track the "underlying" for TMV, given its short history? I'm not sure TBT is a good proxy, I've been using the 30Y Treasury Bond futures and I think its been pretty closely tied to TMV's moves so far.