A couple interesting new highs in yesterday's trading, first and somewhat unsurprisingly the GLL or the Ultrashort Gold ETF traded to a new high on higher volume, as gold sold sold off. This could suggest more pain in the gold trade. And yes, I say that heavy-hearted as I remain long the gold/gold metal stocks. More interesting, the TBT or the short 20-year treasury bond fund traded to new, near-term highs on volume. Additionally, the TBT broke the apparent resistance around the $70 level. This is important as the price of the TBT usually move in tandem with long-bond rates, meaning that as equities were being sold so were treasury bonds.
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