Yeah man I was watching that today too indexes seem to have some bears coming out of hibernation. Russel more so.
yeah, this crap is only supposed to go up , every day, so all the morons who pile in don't have to suffer even a .00000000001 % drawdown
Noticed as well as I was long 7000shrs of IWM and some other indexes which also went down over the week end IWM has been weaker than its larger caps brethens all day. Not a great beginning of May. XLV sweetened the deal a little, but didn't get me to balance. IWM also cracked down upon closing on Friday btw, perhaps I should have taken this as a sign and sold in premarket
A little diverge i understand but when its like 1.50% off from all the other indexes somethings awry...
Found it weird to see it weak when SPY was positive, but IWM tends to crash harder when the market is down. Still it went down twice as much as the midcap MDY. wasn't a day to mingle long with small caps for sure...
Has anyone on this thread traded longer then 2 years? The indices use to always trade like this years ago. It's only after QE1 and 2 that that the correlation is closer to 1. I remember back in the day when the nasdaq was up 100 pts with the dow flat to negative on the day. Some of you guys need to study historical prices a little more.
More or less we are in the same ballpark with all indexes for a while now... Russel was weak at points last week.... Either people are just rotating out or a start of something bigger...