The “Power of the Pattern” reflected in the chart below that for those bond investors that liked to buy on support a good opportunity was at hand. (see post here)
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Below is an update on the price movement of LQD over the past 3 weeks…
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Nice bounce off of support has taken place in the past 3 weeks, helping LQD make more in 3 weeks than the 500 index has this year and don’t tell anyone… LQD has made more in 3 weeks than the 500 index has in 10+ YEARS!
The broad market needed LQD to hold at support and so far it has. For the bond buyers that bought LQD on support, bring your trailing stop up to protect gains.
LQD
