Junk bonds...
Started by
dcengr
, Sep 26 2007 10:22 PM
2 replies to this topic
#1
dcengr
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Posted 26 September 2007 - 10:22 PM
This count would be a 5-3-5 affair with the last rally being a B wave, so a 5 wave down, starting with a wave 3 down to start... this count is completely messed up if PHK goes up from here.
Qui custodiet ipsos custodes?
#2
ogm
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Posted 26 September 2007 - 11:01 PM
I doubt it goes up. It will be probably stuck in this range for a while.
After all, its junk bonds. They will maintain a certain level of spread to treasuries for now. No reason for spread to narrow.
#3
dcengr
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Posted 26 September 2007 - 11:39 PM
I doubt it goes up. It will be probably stuck in this range for a while.
After all, its junk bonds. They will maintain a certain level of spread to treasuries for now. No reason for spread to narrow.
If it stays at these levels, the count is WRONG.
All I know is in the next few days, it'll validate or negate the count.
Qui custodiet ipsos custodes?
