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Buy the breakout on High Yield Muni Bonds?

I read a technical analysis book awhile ago where the author said he bought the 52 week break on instruments.

HYD is breaking out - is this a buy?
http://finance.yahoo.com/echarts?s=HYD+Interactive#{"allowChartStacking":true}

Since coming to this forum I really have changed my thoughts on interest rates and interest paying instruments. I think rates will go lower and anything paying interest will soar.
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