GMOTruths

JNK — Short

Corto
GMOTruths Actualizado   
AMEX:JNK   SPDR Bloomberg High Yield Bond ETF
1
JNK in weekly downtrend, bouncing up from what looks like oversold territory (outside of range). Price may come up to $33 before resuming the downward trend.

A directional rebound would likely see retest of the $32 level. We haven't seen that. Thus, this isn't a reversal but a temorary bounce off the lower trend channel.

Operación cerrada: objetivo alcanzado:
Covered winning trade just below $32 (greedier than planned, but not as much as I could have gotten away with).

Quantity demanded below $32 drove a bounce with big momentum chasing. Price is back to $33 (2016-02-26). Time to short JNK and HYG again.

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