LQD high quality bonds -- Huge Bearish Engulfing Candle

Bearish Engulfing is very effective as a candle. 
I rarely see these fail and go up.

We will see tomorrow, as Abu Dhabi is not bailing out Dubai World, but giving them a loan until April of $10B, which should keep them from defaulting for a while yet.  I wonder what they took in collateral?  I bet it is a sweet deal.

One day away from default...not a strong negotiating position to be in.

Check out LQD - and you can check the other bonds which are a permanent link on the right hand side of oahutrading blog.