Pimco High Income Fund (PHK) Hit A 2% Monthly Cycle Buy Signal

Pimco High Income Fund (PHK, trades like a stock, and, has enough average daily volume for most traders) hit a monthly cycle 2% follow through buy signal/did a strong multi day Wave 1 upcycle, see http://stockcharts.com/charts/gallery.html?phk. Note the very large bullish inverse spike on Tuesday 1-22's candle, when a monthly cycle low occurred at 11.72. Next week PHK should do a short term Wave 2 downcycle for a few days, and, once it bottoms, I'll look to go long.

I never recommend any investments or trades on this Blog (obviously I discuss ones I like), so much depends on when one buys and sells anyway (therefore Trade the Cycles).

PHK's income portfolio is mostly investment quality I think, but, do your own due diligence. PHK appears to be a great trading vehicle for someone seeking both capital gains and high income. In recent months at least, due to the credit crisis, PHK has had high volatility, see http://stockcharts.com/charts/gallery.html?phk.

....... http://www.JoeFRocks.com/ .