I concur. A few posts back I picked a top in the long bond. The market backed and filled around that top and now is set to decline. The ISM numbers today show a pickup in the economy. Interest rates have only on way to go. UP.
The chart of TLT shows the magnitude of the treasury rally that had people wondering why. It amounts to a 50% retracement of the previous move down. Typical of short covering.
The recent action in gold says the same thing.
BUY TBT for a long term play.
And keep an eye on volatility. The worries of the stock market may return regarding higher interest rates and the longevity of the