Eoin personal portfolio stock market long initiated
Valeant Pharmaceutical’s debt is trading at a yield of approximately 9%. This is not particularly distressed for a B rated issuer the majority of whose debt is callable. Considering how bearish sentiment has been and how far the share has accelerated lower I am assuming selling has been overdone. Yesterday’s first upward dynamic in a month and upside follow through today has formed an upside weekly key reversal. I decided to open a long position paying $89.78 for a June contract. The risk is that an additional disclosure or piece of bad news checks potential for a reversionary rally.
