As the market rallies (Dow is up 223), I want to watch the reaction of three ETF's:
GLD (Gold ETF) is currently up 4.16 to 161.75
SLV (Silver ETF) is currently up 1.97 to 31.73
TLT (30 year Treasury) is currently down 2.21 to 116.71
Assuming all three move higher when the market falls in a flight to safety, the opposite should hold true when the market rises. Right now, the Treasury is acting correctly, as stocks are seen as a safer bet...Gold and Silver are completely out of whack. They should be moving lower, not higher, which tells me we have some sort of market maker driven short squeeze going on in the metals.
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