Junk bonds.. what I said last time
Started by
dcengr
, Oct 17 2007 10:53 PM
1 reply to this topic
#1
dcengr
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Posted 17 October 2007 - 10:53 PM
This is not going to be pretty...
Qui custodiet ipsos custodes?
#2
dcengr
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Posted 18 October 2007 - 12:06 AM
This is the AD cumulative of the banking sector. The first chart is BKX components, the second chart is AD cumulative made from 235 bank stocks.
As the charts show, very strong divergence in the breadth vs price of BKX. Hence I suspect that BKX will soon plow through the support point, which will push PHK down even further..
How that will affect the rest of the market is unknown ofcourse, but my bias is that its not bullish...
As the charts show, very strong divergence in the breadth vs price of BKX. Hence I suspect that BKX will soon plow through the support point, which will push PHK down even further..
How that will affect the rest of the market is unknown ofcourse, but my bias is that its not bullish...
Edited by dcengr, 18 October 2007 - 12:13 AM.
Qui custodiet ipsos custodes?
