So far, not so good for the 'bond yields are going to rise' case. This is what bothers me. Why on earth would a reputable outfit like Bloomberg even publish that? Some pro TA guy for a big institution hallucinates a daily (or was it a 60 min.?) double bottom in long rates and an article is published in Bloomberg? What about the weekly (and much more significant) double bottom in the long bond fund TLT that we have been following here for many weeks now?
Certainly these guys did not scare me into even thinking of selling my TLT. But then again, I know mumbo jumbo when I read it. What about innocent folks who just want to read the financial media and get a straight scoop? Sorry pal. This is Larry land.
Hey, I could be crowing right into inflationary Armageddon on Monday. I don't think so, but I am not the type to call a victory til it's decided. But this was just irresponsible journalism. Then again, our major financial media are filled with that. It sells man. Everything's for sale. Even lousy information. Meanwhile, that candle on the TLT is about to make a weekly close above the resistance line that I drew a couple weeks ago.
