+++ Thank you for your assessment, Randy. I know you’ve stated it before, but it’s uber helpful to hear it again. Thank you!

I took this trade in my Schwab account too. Didn’t see that message from them. When shares are classified as easy to borrow, that must indicate less demand now to short LQD? Interesting article here about the inverse situation and investors being charged more now to short SPY, QQQ, IWM: https://www.marketwatch.com/story/investors-are-paying-more-to-short-sell-etfs-heres-what-that-tells-us-about-the-market-2020-03-19

Based on the fact they removed the HTB designation on LQD, that can only be interpreted as a net bearish (vs. net bullish) development (“Net” being the keyword, meaning all other things aside.. with the list of all those potential ‘other things’ too long to mention here). While, it doesn’t guarantee that LQD will or must drop now, as just about every stock or ETF eventually bottoms on selling/high short-interest climax, it certainly increases the chances of another big leg down in LQD.
Despite what might be perceived as a wishy-washy or opaque reply above, it does appear to me that LQD is still on the verge of the next major leg down in a bear market for investment-grade corp bonds which has only seen the first salvo (leg down) fired.

He is spot on in these extreme markets!

Curious as well about this

The odds are decent for at least a minor bounce or consolidation on the next tag of T1 from above. However, we already hit T1 once on Friday after the entry & as such, that was the reaction which is likely off the ‘initial’ tag of each price target when hit, with the odds for little to no reaction increasing on the next & any subsequent tests of that level.
That, coupled with everything that has transpired in the charts over the past couple of weeks, including the current bearish posture with the recent 30 & 60-minute trendline breakdowns following divergent highs, leads me to believe that the market is about to start the first sharp 5%+ drop in the past couple of weeks.