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Putnam Municipal Opportunities Message Board

  • t4two45 t4two45 Mar 6, 2013 11:18 AM Flag

    Head and Shoulders Chart

    Looks like PMO is forming an interesting head and shoulder chart pattern and that has not always been as positive sign. Of course, I have noticed that other municipal bond funds have similar patterns it is a sign that does not bode well for the future.

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    • Agree. All of these muni bond funds have broken seriously below the 50-day and 200-day moving average and have further to fall. Dead cat bounces will occur, but the decline should resume. When these issues bottom, some super tax-exempt rates will be available for those with funds to buy. Good luck if you're holding, but consider averaging down some time in the future.

13.34-0.05(-0.37%)Aug 30 4:02 PMEDT