It's over, I'm out. I enjoyed making money while most of the public wasn't but bonds changed this week. They say the bond market is smarter than the other markets. I can only assume by this week's movement we have inflation on our front door. Oil and the S&P confirm. I am moving to GLD because that may be our only hedge against what is coming to this world. We speculated it for years, now it's here.
The fact that you mention inflation and GLD leads me to believe you were never in.
I agree that a sell out of bonds is long overdue, but the inflation boogieman is nowhere to be seen.
We have overcapacity in production and the labor force.
The only theme that makes sense is fear of missing out on an equities rally.
And that may be enough.