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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: vampire who wrote (33582)	2/26/2002 2:32:48 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99280

Junk bonds and the stock market obviously don't always correlate on a daily basis. But junk bonds have continued to drop since this latest stock market bounce began some days ago. That is a glaring and worrying divergence -- especially considering how cheap junk bonds are today. Tends to support the argument that strength in the stock market is more reflective of traders squeezing shorts, painting the tape, and squeezing option holders than smart investors buying stocks because they think equities represent good value here