Am going to “harvest” half of the high yield mutual fund” holdings, see chart below.
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High yield funds have broken a steep support line of late, am going to harvest half of the high yield positions that were picked up on the upside break above their moving averages. Should a further decline take place and they break the 50-EMA, will look to harvest the rest of the holdings.
In the past, a decline in the high yield mutual fund complex has not been good for equities. This decline so far is not large (couple of percent off the highs), yet I wanted to harvest part of the funds due to the support line break.
Side note per the stock market and economy-Keep an eye on Crude Oil…This decline in Crude is really pushing DTO higher.