The Brains Trust, page-3063

Hi PB.

I hope you're right. Feel like we need more consolidation under the LT downtrend to me, but happy to be proven wrong. As mentioned previously, US treasuries and gold have been in lockstep for the last 2 and a half years.



I've been watching 120 level in TLT for a potential long entry. I've got a very Long term uptrend support not far below. While 120 is more of a ST area, I dont want to get too cute with it. The Trump trade is pretty well priced for perfection. Any issues with Tax reform etc should see a sharp reversal in interest rates, which should see gold break the downtrend everyone has been watching.

Seasonally this thesis fits also.