Wednesday, September 23, 2009

Short the Russell 2K

The chart above is a long term (10yr) view of the Russell 2000 tracking stock the I-shares ticker IWM. We seem to be bumping up against some significant resistance which I am comfortable fading. I fully realize the 'buy-the-dip' crowd's confidence grows daily. Call me crazy

I am prepared to short 1 unit of this, ticker IWM, here at $61.80 with a stop at 63.80

I am also prepared to get long the proshares ultrashort Russell 2000 ticker TWM here at $27.40 with a stop at $26.40

Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Ultrashort Russell 2K ticker TWM @ $27.50 stop @ $26.40
Short 1 unit Ishares Russell 2k ticker IWM @ $61.70 stop @ $63.80

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