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djn21
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First off, I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is debt, and running straight though a global economic model that is based on a premise of infinite growth in a finite world. This won't end well. I'd go a step further and... More
My company:
New Power Media
My blog:
Playing the Ponzi
  • Ow! High yields feel the pain 0 comments
    Jun 16, 2011 4:49 PM | about stocks: HYG, JNK, PFF

    There is lots of reason to believe there is support at 1250.  But downside risks continue to add up.  Commodities continue to break down, but check out the ugliness in high yielding junk bonds and "preferred" shares today!  Brutal selloffs in HYG, JNK and PFF!

     

    This doesn't bode well.

    The headlines and sentiment seems so bearish that it feels like we should bounce soon... but breakdowns in high yield and commodities don't bode well.  And if you remember 2008, it felt like "we should bounce" all through the fall as we fell off the cliff.
    Themes: selloff, high yield Stocks: HYG, JNK, PFF
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