PIMCO is the largest owner of bonds in the world and Bill Gross was out there in December, including on Bloomberg interviews, talking down bonds, warning that inflationary risks of stimulus programs such as quantitative easing will drive up rates and bond prices lower. The 30-yr dropped from about 150 to 143.
Well, Bloomberg reported today (Thursday) that he raised the percentage of bonds held in his flagship fund to 26% in December, the largest holding since last July. So, it'll be interesting to hear his next interview.
But this is not the first time he's done this. The media just plays along in the continual slaughter of the lambs. Rarely is anything as simple as it seems. Anyway, we can expect bonds to rise in the coming weeks and months.
So obviously, as we've witnessed, Bloomberg is not below doing the same favor for some operator in SKUL in its complete fabrication of it being a take-over candidate. A story with absolutely nothing to back it up; a pure sham. Hopefully the home-gaming shorts got out before this news noise.
Well, on that day, Wednesday, they ran it up past the daily R3 pivot and sold to the new lambs hand over fist. Thursday and Friday it couldn't even close over the pivot.
Well, we have a trading range established now that looks to be $6.55 to $7.40; 13% for long plays and 11.5% on shorts, that is unless the selling is not over.
Too bad about Packers. San Fran look like they could go all the way.