JNK broke a bear flag, like a base jumper who got a small rope that snagged on the edge and he is hanging precariously. Unfortunately for Junk Bonds, there is no parachute, the base jumper is in a much better situation.
LQD was down more today...I guess people want to get away from highly quality corporate bonds....who need those when you need yield.
I cannot short JNK on TOS or on Etrade. Anyone know where JNK can be shorted.
The options look pretty illiquid and with large spreads.
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Insightful and Useful Comment!