Friday, January 1, 2016

Grain ETN (JJG) Ends Year at Dual Support (daily chart) - UPDATE 1/11/16

UPDATE 1/11/16:

JJG broke support and tested former support as resistance.  I still have a very small long-term position in JJG.


click chart to enlarge

The daily chart above shows that grain ETN, JJG, ended 2015 at/or very near two longer-term support lines.

Will JJG reverse its downward trend at these two support lines? We really don't know. 

However, these lines could be used in a buy and protect strategy whereby a position taken now in JJG is sold if the price subsequently breaks below support to protect invested capital.  A sustained break of support here could result in significantly lower prices.

Please remember that this is not investment advice. You alone are responsible for your investment decisions. See disclaimers below and elsewhere on this website.

Not Investment Advice | Important Disclaimer: 
The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has a long position in JJG at the time this article was written. This position may change depending on future price action.

Base Chart Provided Courtesy of  Analysis and Annotation by JunkBond (all rights reserved)

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