SPDRBarclays High Yield Bond ETF (JNK)

JNK (NAL:Financial Services) ETF
$31.91
pos +0.00
+0.00%
Today's Range: 0.00 - 0.00 | JNK Avg Daily Volume: 14,376,600
Last Update: 02/08/16 - 3:59 PM EST
Volume: 0
YTD Performance: -5.90%
Open: $0.00
Previous Close: $31.91
52 Week Range: $31.76 - $39.79
Oustanding Shares: 286,523,807
Market Cap: 9,254,718,966
6-Month Chart
TheStreet Ratings Grade for JNK
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy
Moderate Buy
Hold
Moderate Sell
Strong Sell
Mean Rec. 0.00 0.00 0.00 0.00
Latest Dividend: 0.00
Latest Dividend Yield: 0.00%
Dividend Ex-Date: 12/31/69
Price Earnings Ratio: 0.00
Price Earnings Comparisons:
JNK Sector Avg. S&P 500
0.00 0.00 28.38
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
-11.66% -18.66% -21.11%
GROWTH 12 Mo 3 Yr CAGR
Revenue 0.00 0.00 0.00
Net Income 0.00 0.00 0.00
EPS 0.00 0.00 0.00
Earnings for JNK:
EBITDA 0.00B
Revenue 0.00B
Average Earnings Estimates

Earnings Estimates data is not available for JNK.

Chart Benchmark Timeframe
Average Frequency Indicator Chart
Scale Symbol Comparison Bollinger Bands
By

Doug Kass

 | Feb 8, 2016 | 6:17 PM EST
Again, I am endeavoring to be opportunistic (trading) in a market that is fragile,  too volatile and unpredictable to be comfortable with an abundance of many longer-term investments. At the bottom this afternoon, things looked dreadful. It was not easy to make a long trading rental and add to existing shorts. The S&P 500 ended at 1853, very close to my fair market value of 1860. The U.S. dollar weakened a bit after a five day period of consolidating against the euro. Bonds dropped by nearly 10 basis points in yield at the intermediate- and longer-term maturities. Non taxables were well-bid and closed-end municipal bond funds were slightly higher on the day. High yield was junky, reflecting systemic concerns in the European Union and China (large reserve pull down). iShares iBoxx $ High Yield  Corporate Bond Fund (HYG) was down 91 cents and SPDR Barclays High Yield Bond ETF (JNK) was down 40 cents. Blackstone/GSO Strategic Credit Fund (BGB) got pulled down and traded poorly. Gold fell from its highs but still closed $32.70 to the good. Silver was up 55 cents. I had been working on a positive thesis on gold but other projects got in the way, and I blew the opportunity as the price has risen on eight out of the 10 last trading days.   In agricultural commodities, wheat got schmeissed (down eight cents) and corn was down three cents. Lumber was flat. Crude closed down 84 cents, at $30.25, but natural gas was up six cents. Energy stocks, including Exxon Mobil (XOM) and Schlumberger (SLB), prospered today, despite a depressed commodity price. It might be foreshadowing better oil prices; we will see. Banks again were weaker as European institutions took a nosedive. I added to my large position. But life insurance wasn't any better, falling from the pressure of lower yields. I covered some MetLife (MET) and Lincoln National (LNC) shorts. Brokerages got caught in the systemic rumors and concerns and were lower on the day; I added to Morgan Stanley (MS) and Goldman Sachs (GS). Oaktree Capital Group (OAK) ended the day fractionally higher. Retail that I owned wasn't half bad; Best Buy (BBY) and Bed, Bath and Beyond (BBBY) closed higher, but Macy's (M) retreated by 60 cents. That said, remodeling favs Home Depot (HD) and Lowe's (LOW) continued the thrashing that accelerated on Friday. After the close, The Gap (GPS) reported that same-store sales were down 8%. However, its guidance was better than expected and the stock is rallying a small fraction after hours. Lululemon (LULU), Coach (COH) and Under Armour (UA) were all much weaker in a poor apparel space. Autos were mixed; Ford (F) was higher and General Motors (GM) lower. I wonder, after great gains on the short side, whether I am outstaying my welcome. But, I have taken down these shorts to small. Media was awful -- even good performer Comcast (CMCSA) faltered. New lows for Disney (DIS). Old tech was weak, led by Microsoft (MSFT) and Intel (INTC), but bounced off their lows along with the rest of the market. Staples were broadly higher, led by PG, which embodies the flight to safety.  Biotech was decimated. Valeant Pharmaceuticals (VRX) was down by another $6.50 and my spec fav Intrexon (XON) was down by a beaner. Allergan (AGN) hit a new recent low at $266. (T)FANG weakness and future were chronicled in my opening missive today. The acronym was lower, but Alphabet (GOOGL) and Netflix (NFLX) managed to rise modestly. Tesla (TSLA) got hit badly (down $14), as did Facebook (FB) and, to a lesser degree, Amazon (AMZN). NOSH was starving; Nike (NKE), O'Reilly Automotive (ORLY) and Home Depot (HD) were down bigtime. Starbucks (SBUX) rallied off the lows to end the day flat. CRABBY was mixed, led to the downside by Citigroup (C); I added it. Disease-like laggards Potash (POT) and Twitter (TWTR), which reports Wednesday, continued to lag.  iShares China Large-Cap (FXI) -- a Best Ideas List participant as a short -- doesn't have an uptick in it.  Apple's (AAPL) strength was conspicuous , up $1.20. During the day I added to many of my existing longs and added to new banks Regions Financial (RF) and BB&T (BBT); I put them on the Best Ideas List. Again, i see banks as multiyear plays and not as short-term trades. I also covered small positions in a broad list of my core shorts, including DIS, MET and LNC. As mentioned, I day traded an aggressive position in SPY for a profit. I will continue to try to accomplish that feat. I ended the day at market neutral. For the time being and assuming no change in fundamentals, I remain a SPY buyer between the capitulation low (two Wednesdays ago at $181.25 and about $183.50) and I remain a seller on strength above $185. I know that's a pretty tight range, which likely will be resolved s
By

Doug Kass

 | Feb 3, 2016 | 4:35 PM EST
The market is almost unplayable for most. A crude reversal likely was the catalyst for the turnaround, as quants ran on board the train from the morning lows. As I mentioned this morning, there is little edge or trend right now. If you trade, keep your value at risk (VAR) low because the large swings can produce big profit/loss changes on relatively small positions. Volatility "cubed" in a market dominated by machines and algos that don't look at income statements or balance sheets and have no concept of intrinsic value. It's in Nowhere Land, at least on a short term basis.  But I am of the view that the primary/intermediate trend is lower -- time to trade and be careful with investments. I still look for a low double-digit decline in the S&P 500 in 2016. Ss (S&P) over Ns (Nasdaq) and Rs flat (Russell). I traded actively today with some success, trying to be opportunistic and trying to embrace panic and euphoria. In other words, "Get It While You Can" is my mantra.  I ended the day market-neutral, shorting SPDR S&P 500 ETF (SPY) on a 40-handle move off the lows ($191.35).  My five largest longs and shorts.  The decline in the value of the U.S. dollar was a key feature of the trading day, though I heard little discussion in the business media. Crude oil reversed dramatically, closing up $2.52 a barrel. Nat gas was unchanged. Gold was up another $13.40 per ouce. Still working on a memo on precious metals. Agricultural commodities: wheat up three cents, corn down two cents, soybean nine cents lower  and oats four cents lower. After a lot of intraday movement, bonds were essentially unchanged, with the 10-year and 30-year up by one to three basis points in yield. iShares 20+ Year Treasury Bond (TLT) was down more than a beaner. Municipals were well-bid and closed-end municipal bond funds were up by a few cents apiece. High yield was bid. iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was up 38 cents and SPDR Barclays High Yield Bond ETF (JNK) was up 12 cents. Blackstone/GSO Strategic Credit Fund (BGB) was seven cents to the good. Bank-selling got panicky early in the day, I added across the board. Comerica (CMA), JPMorgan Chase (JPM), Blackstone Group (BX) and Goldman Sachs (GS) ended the day higher after a pressured morning session. I observed that bank-centric sovereign debt funds might be responsible for the almost irrational selling of late. Here's my Chart of the Day on the aforementioned selling by sovereign wealth funds.  Staples responded well to a lower dollar Energy stocks were flat despite the ride in the resource. Biotech looks awful; they were flat on the day with Valeant Pharmaceuticals (VRX) rallying but Allergan (AGN) declining. Old tech didn't participate in the afternoon rally, but IBM (IBM) rose by $1.50. Alibaba (BABA) and Yahoo! (YHOO) were bad. Retail was mixed, with Macy's (M) a leader to the upside and Home Depot (HD) and Lowe's (LOW) downside leaders with large dollar drops today. I bought more GS (it rallied by $4 from today's purchase), Morgan Stanley (MS) (big recovery) and BX (nice reversal). (T)FANG is breaking down and rolling over -- a constant refrain of mine over the last four months. Tesla (TSLA) was down $10, Netflix (NFLX) down $1 and Alphabet (GOOGL) reversed most of its previous-day gain. Amazon (AMZN), which I featured today, continues to get schmeissed -- down $21. It is Bill Miller's largest holding (about 10% weighting). but I disagree, respectfully, with Bill. NOSH was broadly lower, led by Starbucks (SBUX) and O'Reilly Automotive (ORLY). CRABBY looked better, with only Allstate (ALL) and BAC lower. In individual stocks: Procter & Gamble (PG) and DuPont (DD) -- two new Best Ideas List entrants as longs -- were standouts to the upside. Potash (POT) reversed yesterday's loss. Life insurance stocks, including my shorts Lincoln National (LNC) and MetLife (MET0, were standouts to the downside (again). I hope you enjoyed
By

Doug Kass

 | Feb 2, 2016 | 4:05 PM EST
I came in small-size short -- average cost of about $194 shorting SPDR S&P 500 ETF (SPY) -- and ended the day at market-neutral exposure. Covered my short SPY from yesterday at reasonably good levels (see Columnist Conversations). It's not about the Benjamins, it's all about the quants.  A year of surprises lies ahead, 'cause baby it's cold outside.  Watch housing, because it could be the next shoe to drop.  The U.S. dollar weakened against the euro. Gold was unchanged. I'm working on a memo on the asset class. Silver down a nickel. Oil vey. Crude oil equals schmeissburger. Down by $1.60 a barrel. In agricultural commodities, wheat up a penny, corn up two cents, soybeans up a nickel and OJ futures up $2.50. Lumber up $8.50. Bonds were the world's fair, with most maturities down by 10 basis points between five and 30 years. The 10-year yield is back down to 1.85%. My advice? Refinance! I am. Nontaxables were well-bid and closed-end municipal bond funds followed their asset class higher. High yield acted like stocks, junky. Near the close, iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was down 55 cents and SPDR Barclays High Yield Bond ETF (JNK) was down 30 cents. But no worse than yesterday. Blackstone/GSO Strategic Credit Fund (BGB) got hit for a few pennies after a solid three-day run. Peak autos, I tell ya. General Motors (GM) and Ford (F) down by 60 cents each. Both on my Best Ideas List.  Peak Ferrari.  Retail was hit after a good run. Consumer staples weakened despite a lower currency. Old tech was crippled; a broad-based decline with Microsoft (MSFT), Intel (INTC), IBM (IBM) and Cisco (CSCO) leading to the downside. Biotech gave back their recent gains, with primary and secondary stocks getting clipped. My spec Intrexon (XON) got punished. Banks give up all of Friday's gains. I've given my reasons for this performance. As well, there seem to be fears of a possible Sanders nod, which still seems an unlikely event. If he is the Democratic nominee, I would not be surprised to see Mike Bloomberg enter the fray. If Bloomberg did not enter, a Sanders Democratic presidential nominee likely improves the chances of a Republican presidential victory, which would be friendly to bank stocks. LIfe insurance stocks at new lows -- I gotta tell you my Lincoln National (LNC) and MetLife (MET) shorts are killing it. But I am slowly adding to Hartford Financial Services Group (HIG) against 'em. (T)FANG was a schmeissburgter, except stock du jour Alphabet (GOOGL). Tesla (TSLA) was down another $15 and Amazon (AMZN) another $23 and within $2 of my short cover from the other day. NOSH was broadly lower, led by O'Reilly Automotive (ORLY) and Home Depot (HD) to the downside. CRABBY was only slight lower, with Citigroup (C) and Allegheny (Y) down a large percentage on the day.  Radian Group (RDN) had another weak day, down a quarter of a beaner; I am still exploring under the hood Potash (POT) gave up the ghost after some stabilization. New Best Ideas long duPont (DD) had a breathtaking response to Dow Chemical's (DOW) earnings beat.   I am trading conservatively around the zero line becaus
By

Doug Kass

 | Feb 1, 2016 | 4:30 PM EST
I outlined my near- and intermediate-term outlook in parts one and two of this morning's opening salvo. I moved in dramatic fashion from a relatively large net long exposure taken on a week ago Wednesday and Thursday to a small net short exposure at day's end. I got more aggressive after 3 p.m. I scaled into a SPDR S&P 500 ETF (SPY) short all day, from premarket to regular trading session (as high as $194.40) A Stanley Fischer rally? Algos sure like what he said. I view his verbiage as hedged and a non-event. The market, for the second day in a row, defied the weakness in crude oil prices, which were down $2.11 to $31.51 a barrel. Ns (Nasdaq) over Ss (S&P index) and Rs (Russell index). A strange day in light of weaker crude oil and the deteriorating price action in high yield. The U.S. dollar weakened against the euro. Gold up another $12.30 -- its sixth or seventh day in a row higher, I believe (more on gold tomorrow). Agricultural commodities saw wheat down three cents with corn and soybeans flat. Lumber was unchanged. Bonds were up by two to four basis points in yield, depending on maturities. iShares 20+ Year Treasury Bond (TLT) was down about 40 cents. Non taxables were weaker, with iShares National AMT-Free Muni Bond (MUB) down by 0.2%. But muni bond funds were higher. Strange. High yield was junky;  iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was down 42 cents and SPDR Barclays High-Yield Bond ETF (JNK) was down 22 cents. Blackstone/GSO Strategic Credit Fund (BGB) held recent gains Banks were flattish, but they had a monster run on Friday -- up 5%. They were featured on the cover of Barron's. Citigroup (C) is the strongest name. Selected financials were strong. Blackstone Group (BX), despite a Goldman Sachs downgrade, reversed bigtime. Oaktree Capital Group (OAK) was conspicuously strong. Both BX and OAK are on my Best Ideas List.  But brokerages -- such as Goldman Sachs (GS) and Morgan Stanley (MS) -- were hit with profit- taking. Life insurance, too, was death, including Lincoln National (LNC), MetLife (MET) and Hartford Financial Services Group (HIG) Retail showed large gains, led by Wal-Mart (WMT);  I eliminated a trading long rental for a large percentage gain). Macy's (M), Best Buy (BBY) and Bed, Bath and Beyond (BBBY) reversed substantially to the upside. Utilities were up and highlighted in my Diary.   Staples were mixed, despite the weakening U.S. currency. The energy sector suffered under the weight of a large decline in crude oil. Biotech recovered, led by Valeant Pharmaceuticals (VRX), Mallinckrodt (MNK), and my spec fav, Intrexon (XON). Autos had a dead-cat bounce. (T)FANG resumed its strength, though Amazon (AMZN) was down $12. Tesla (TSLA) and Facebook (FB), which hit a new high, were features. NOSH was tasty, fueled by Nike (NKE) and O'Reilly Automotive (ORLY). CRABBY was up small. Last program standing defines the close. Alphabet (GOOGL) tonite -- Boca Biff is short Alphabet, but he is not that good of a speller! I reinitiated a SPY short (
By

Doug Kass

 | Jan 26, 2016 | 4:35 PM EST
I thought today was a picture perfect day for the bullishly inclined. In the market without memory from day to day, the market forgot yesterday. Mr. Market had every reason to continue yesterday's schmeissing. It looked scary at the get go. If someone told you the Chinese stock market would be down 6% overnight, raise your hand if you would have expected the S&P 500 to advance by more than 20 handles? I don't see many hands. At their nadir, the S&P futures dropped by about 17 handles last evening. At 3:45 p.m. ET today, they had rallied by more than 40 handles. During the day there were several small dips; the market had every excuse to sell off, but buyers surfaced. There was an interesting and respectful debate between Rev and myself with regard to the enthusiasm corresponding to today's rally. I don't see it (I see fear and immobility), Rev sees optimism. (See my Columnist Conversation response and Rev's column.) It's an open debate that will not be resolved for a bit more time! Per the last bullet point, the investor sentiment numbers out midweek should be interesting. The U.S. dollar was modestly weaker today. Crude, the tail that wags the market's dog, climbed 90 cents. Natural gas was a penny higher. I covered my oil shorts in the session's early going. Gold was up $17. Treasuries were flattish, with most maturities showing a basis point change of one to two (up and down) in yield. Municipals were offered, but closed-end muni funds traded well.  They had been a source of funds recently). High-yield debt followed the crude market and was better bid. iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was up 70 cents and SPDR Barclays High Yield Bond ETF (JNK) was up 28 cents. Blackstone/GSO Strategic Credit Fund (BGB) regained what it lost yesterday. I have further added over the last three days. Wheat was three cents higher, corn a penny lower and soybeans down a nickel. Lumber was up 2%. FInancials rebounded from Monday's poor showing. The planned acquisition by Huntington Bancshares (HBAN) of FirstMerit (FMER) sparked the regional sector. I continue to add to Hartford Financial Services Group (HIG), Citigroup (C) and Bank of America (BAC). Staples, led by Kimberly-Clark (KMB) and Procter & Gamble (PG), were strong. Old tech was well-bid, though gains were muted. (T)FANG underperformed. But as I mentioned, I believe this is a positive signpost. We want to see leadership broaden and (arguably) excessive speculative valuations curbed.  NOSH was higher, led by O'Reilly Automotive (ORLY). CRABBY was strong across the board, with all six components higher. I had an active trading day; I covered a number of shorts, including Exxon Mobil (XOM), Schlumberger (SLB), iShares MSCI Germany (EWG), iShares MSCI France (EWQ) and iShares MSCI United Kingdom (EWU). I also bought several new positions, including Procter & Gamble
By

Doug Kass

 | Jan 25, 2016 | 2:51 PM EST
The obligatory decline has occurred today, after a 90-handle move in the S&P Index over a two-and-a-half-day period. Futures near the low of the day. Not surprising to anyone. The contrary would have been a continued rise. The damage, thus far, has been relatively contained. The U.S. dollar was weaker today (1.0838 against the euro). Crude oil -- the object of algos and machines -- traded $1.52 lower after Friday's nearly 10% advance. Gold rallied by almost $10. Silver was 18 cents to the better. Wheat up a nickel, corn down a penny, soybeans up three cents, oats are flat. Treasuries essentially were unchanged across all maturities. Municipals unchanged. HIgh yield was junky -- iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was down 50 cents and SPDR Barclays High Yield Bond ETF (JNK) was down 17 cents. Blackstone/GSO Strategic Credit Fund (BGB) got hit after a better Friday. Energy stocks are lower on crude's move; that includes my favorite shorts, Schlumberger (SLB) and Exxon Mobil (XOM). Banks are lower, but off the day's bottom. Regionals are weaker than money centers. "Gun to my hand" the sector may have made a short-term bottom. I've been watching the turn in JPMorgan Chase (JPM) from lows. Housing-related stocks got schmeissed -- mortgage insurance and home builders in particular. Staples were flattish, though Kimberly-Clark (KMB) a downside feature. Retail trying to rally, though Macy's (M) gave back Friday's ramp. Fertilizers got smacked, among them Monsanto (MON) and Potash (POT). (T)FANG mixed, with Google, now Alphabet (GOOG) and Tesla (TSLA) lower. Netflix (NFLX) continues weak. Amazon (AMZN) crosses above my short cost basis of $600 after it was much lower early last week. NOSH was lower, but O'Reilly Automotive (ORLY) was up $6. CRABBY was lower, all five components. Twitter (TWTR) was down on management moves. A work-out. I added small to several long-term invest
By

Doug Kass

 | Jan 21, 2016 | 5:30 PM EST
The last became the first today.  I outlined my technical rationale for thinking that yesterday's "noon swoon" might be an important market bottom.  History is my guide, not anecdotes.  An abundance of uncreative, consensus and "groupstink" in the business media today. Too many that I won't even repeat some of the uninformed comments about yesterday's  short covering (that is almost always the start of a legit rally). Yesterday's dip of death and "noon swoon" was (based on my desk contacts) machine- and algo- driven. Gamma hedgers and risk parity strategies were especially active in the drop.    Ss (S&P) over Ns (Nasdaq) and Rs (Russell). The U.S. dollar was stronger, though well off of the day's best. Taxable government bonds were weaker -- the 10- and 30-year yields were four basis points higher. High yield, as seen with iShares iBoxx $ High Yield Corporate Bond ETF (HYG), up 66 cents, and SPDR Barclays High Yield Bond ETF (JNK), up 17 cents, reversed recent losses. Blackstone/GSO Strategic Credit Fund (BGB) was flat, and I added. Municipals were lower, slightly, and closed-end municipal funds recovered a good portion of yesterday's loss, which seemed to have been inspired by the group being a source of funds. Oil was up $1.40. Schlumberger (SLB) had a two-cent beat and announced a large buyback, boosting shares a bit, while Exxon Mobil (XOM) responded well to the rise in the commodities prices. I had covered most of my short yesterday. Natural gas was up four cents. Agricultural commodities were mixed. Wheat was up three cents, corn down three cents and soybean up a nickel. Lumber was up $1.60. Banks were weak, owing to oil-related credit concerns -- more on that next week. I am not as concerned as the market with regard to oil credits. I added to Citigroup (C) and Bank of America (BAC) today. Retail paid off. Macy's (M), Best Buy (BBY), Bed, Bath and Beyond (BBBY) and Wal-Mart (WMT) were all strong. M continued the technical breakout mentioned yesterday. Consumer staples were surprisingly strong given the dollar, though I suppose the selloff in the dollar buoyed late-day action. Old Tech was a tad better, with a dead-cat bounce from IBM (IBM) after Wednesday's schmeissing.  (T)FANG was mixed. Amazon (AMZN) was up $3.25 and Google, now Alphabet (GOOG), rose $8-plus, but the others were flat to down. Netflix (NFLX), the object of my disaffection this morning, fell more than $5. NOSH saw gains from three of the four stocks. Nike (NKE) was relatively strong. CRABBY was mixed, with fractional moves. Starbucks (SBUX), the stock that nearly everyone owns and likes, beat by a penny but the top line was weaker than expected. Chinese comps were disappointing (up 5%), overall comps were in line. Guidance was less than expected by consensus. I remain short but small after yesterday's cover when the shares were down $3. I expect a poor response to today's after-the-close release. The stock is down nearly $3 after closing up $2-plus in the regular session. American Express (AXP) beat but guidance is poor. Another Buffett holding with a leaking "moat" by virtue of losing its brand premium and value. Twitter (TWTR) continues its modestly better action. Potash (POT) was weak in a stronger sector, where both Monsanto (MON) and Culp (CFI) finished higher. Oaktree Capital Group (OAK) was flattish.  I spent the last year shorting
By

Doug Kass

 | Jan 19, 2016 | 5:48 PM EST
Another day, another win for the bears. Soaring futures action succumbed to more selling in the afternoon. A late-day stick save prevented the 2016 streak of down days to continue. But the S&P was only up by one handle. As Grandma Koufax used to say, "Dougie, it could have been worse!" The U.S. dollar weakened, but dollar-sensitive exporters and multinationals prospered absolutely and relatively. Oil was down another $1.17 per barrel. Natural gas was flat. In oil equities, Exxon Mobil (XOM) gave up some of its recent gains; I sold my U.S. Oil Fund (USO) last week. Gold was down $3.70. I sold my SPDR Gold Shares (GLD) last week. Agricultural commodities were mixed, with wheat down a tad but corn up four cents and soybeans up two cents. Oats rose 10 cents and lumber was up 1%. Bonds were for sale; most maturities gained two basis points today in yield. Municipals were flat, closed-end municipal bond funds weakened, and high yield was junky; iShares iBoxx $ High Yield Corporate Bond ETF (HYG) was down 27 cents and SPDR Barclays High Yield Bond ETF (JNK) was down 16 cents.    Blackstone/GSO Strategic Credit Fund (BGB) weakened ... again. It can't get out of its way despite the elevated yield and wide discount to net asset value. I added small today. Banks were mixed after better results at Bank of America (BAC). I will have an update and assessment (hint: there is no change in my view) on the BAC, Citigroup (C) and JPMorgan Chase (JPM) quarters in the next two days. Life insurance stocks (I am short) don't appear to have a bottom.  Retail was mixed , though two of my holdings -- Best Buy (BBY) and Bed Bath and Beyond (BBBY) -- turned south ... hard. Biotech was schmeissed again, with weakness in primary and secondary sector names. I am watching speculative Intrexon (XON) for an entry point. Old tech was taken to the woodshed, with IBM (IBM) faltering for the umpteenth time after the close. (I wasn't around, but the guidance from Intel (INTC) was horrible, perhaps laying a foundation of further weakness ahead for old tech.) Potash (POT) was weaker within a floundering fertilizer group. Twitter (TWTR) continues without a bid. The shares were probably lower because of a worldwide problem with the site. Oaktree Capital Group (OAK) excelled. (T)FANG was mixed, but the acronym has been weak of late, per my opener.  NOSH was tasty, led by O'Reilly Automotive (ORLY).  CRABBY was flattish. Some of my favored shorts on my Best Ideas List -- e.g., Disney (DIS), Comcast (CMCSA) and Apple (AAPL) -- continued to falter and had little or no rally in 'em.  I bought the weakness in SPDR S&P 500 ETF (SPY) this afternoon and added to Citigroup and Bank of America. I re-established a Hartford Financial Services Group (HIG) long against my MetLife (MET) and Lincoln Financial (LNC) shorts. I moved my net long exposure higher today. Here is why, as outlined here and here.
By

Tom Graff

 | Jan 15, 2016 | 2:30 PM EST

Observations in the context of today's stock rout.

By

Tom Graff

 | Jan 15, 2016 | 1:00 PM EST

Observations in the context of today's stock rout.

Keeping in mind that timing is not 100%, I have a cluster of cycles suggesting a low in GO...
I'm not at a major downside target yet in SPX, but I do have timing for a tradable bounce ...
What the market bloodbath reinforces: always hold a realistic view of the future (dare I s...
Kelly Services had been strong this morning in the face of intense broad-based selling ove...

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