nomomo

nomomo

Spreads are far too tight considering current credit quality. Oil is not cooperating, and although it's being used as a duration haven, I believe high yield bonds are poised to take a bath here. Short to 35, and take half with a tight trail. ATM Sep puts may be the best way to play it, with a 8/1 risk reward. TA shows ascending wedge exhaustion on the retest,...

nomomo Updated 

It is the moment we have all been waiting for. Let me give a quick nod to everything I'm seeing here. Although not viewable on the chart, if you go back to 2014 I see a 5 wave bear pattern and we have since gotten an abc correction off the february low. Following the A wave, we have set an ascending wedge, with momentum divergence building along the supply line....