Well, at least it is bullish to me, Bottomfeedus Extremis. Now, I have been awaiting the punishment of the 'inflationistas', and what better way to administer it than the long bond breaking out from weekly consolidation. Here is TLT as our proxy for the $USB 30 year bond.
I think I am going to buy this thing for a trade and for a little more protection against my gold miner positions. We will no doubt get to our inflationary future, but not with every resource bull on the planet on full pump once again.
Long term treasuries are contrary my deepest fundamental big picture beliefs so this is just a trade, for better or worse. I cannot think of anything more intrinsically worthless than United States Treasuries. Well, maybe one thing.
A daily chart w/ good looking MACD was shown this weekend in NFTRH46.
Edit (1:56) Mish checks in with some similar thoughts on treasuries. I just saw it and published it a few minutes ago, I swear. BTW, I have taken positions in the TLT but I would like you to note that that is not an actualized weekly break out on my chart, since the week is not even one daily session old yet. So, I am long and like Mr. Shedlock, make no recommendation (now or ever) that you should be. I do not mind being on the same stance as Mish, however.
Edit (2:20) What the heck, this is what NFTRH46 had to say on Saturday...
"Let’s look at the long bond as represented here by the iShares TLT fund. This chart looks like a ‘buy’ to me (bottom feeder) so therefore, a potential deflation impulse, complete with disoriented inflationists and a US dollar pop look like a good possibility. Consider that if you are strongly long, you are in the company of the AAII and an increasingly bullish financial media, or at the very least a financial media that has ceased scaring the public to death 24/7 and is now comfortably back in its normal mode of peddling convention."
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