Junk Food for Thought

The high yield corporate paper and junk bond ETF's, below on their respective daily timeframes, continue to diverge from equities with respect to the major averages making fresh highs while these ETF's straggle after a rally off the October lows. This is not enough evidence to declare a market top. But it does add credence to the notion that equities are not exactly an all-you-can-eat-buffet in terms of broad-based participation in these rallies in the S&P. Thus far today, I am seeing a rather choppy tape from this morning's opening bounce. I am still looking to add exposure to miners of all kind if they close near theirs highs this afternoon. Intraday traders can keep an eye on BBRY over $11.61 for a long setup, with a stop below $11.35. _________________________________________________ _________________________________________________