• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Energy

Trader's Notebook: Trouble Ahead for Junk Bond, Gold ETFs?

Also, Chesapeake Energy and the beaten-down energy stocks.
By BOB BYRNE Nov 20, 2015 | 09:00 AM EST
Stocks quotes in this article: JNK, HYG, GLD, CHK

The SPDR Barclays High Yield Bond ETF (JNK) and the iShares iBoxx High Yield Corporate Bond ETF (HYG) traded horribly on Thursday. So if you're in the camp that believes stocks, particularly small-cap stocks, need a strong high-yield market to sustain any sort of rally, the weakness in these two exchange-traded funds is reason for concern.

The SPDR Gold Shares ETF (GLD) made it to 104 during Thursday's session, but the buying quickly faded. If you're looking for a tradable turn in the GLD, consider sitting on your hands until, at a bare minimum, the ETF is back above 104. With likely resistance toward 105.75, getting gold off the floor won't be an easy task.

I'm frequently asked about Chesapeake Energy (CHK) and a handful of other beaten-down energy names. Unfortunately, CHK, like many in the space, continue to lose bid support on any halfway decent rally. The best advice I can offer to those bottom picking in the independent oil space is that bad things have a way of happening more frequently when price spends the majority of its time beneath the 200-day simple moving average. Put another way: It's often safer to be long stocks that are trading above their higher timeframe moving averages and have demonstrated that buyers have recaptured the balance of power.

Any trading or volume profile related questions can be posted in the comments section below, emailed to me at parkcityyeti@gmail.com or posted to my twitter feed @ByrneRWS

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Byrne had no positions in the stocks mentioned.

TAGS: Stocks | Investing | U.S. Equity | Energy

More from Energy

Plug Power Has Lost Its Energy to Rally

Bruce Kamich
Oct 3, 2023 9:56 AM EDT

Here's what's happening with the stock of this hydrogen fuel cell company.

What Energy Trade?

Helene Meisler
Oct 3, 2023 6:00 AM EDT

Let's talk about the trade no one wanted to talk about. Also, let's check bonds, utilities and those darn indicators.

Methanex Is Having Trouble Lighting Up

Bruce Kamich
Oct 2, 2023 12:51 PM EDT

Here's how aggressive traders could play this methanol maker, and why everyone else might want to keep on the sidelines for now.

My Energy for Energy Stocks Is Waning

Bret Jensen
Oct 2, 2023 10:00 AM EDT

There are several reasons why I am not nearly as optimistic about this area of the market as the fourth quarter begins.

I'm Watching the Relationship Between Semis and Energy -- And You Should Too

Helene Meisler
Oct 2, 2023 6:00 AM EDT

It's possible these are just blips, but along with the dollar, bonds, oil itself and the Transports, this is where my focus is.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 12:13 PM EDT BRUCE KAMICH

    8 Trading Rules from T. T. Hoyne

    You just read the header for this missive and prob...
  • 08:42 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How Elite Traders Make Big Profits
  • 02:58 PM EDT BRUCE KAMICH

    Classic Trading Rules From Bernard Baruch

    Bernard Baruch listed the rules (below) in his aut...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login