[9/7: updated stop to 180. We’re already #FreeRiding, so whatever we sell for is pure profit!]
It’s time for the small caps to make a stand. The time is now. If they don’t, it could be ‘goodnight’ for a long time.
JC posted earlier this week about the Russell 200 index and had this to say:
We talked about $IWM internally this morning and I suggested a good, levered way to play this thesis while honoring a nearby risk management level that will get us out of the trade without much pain if we’re wrong.
But first, here’s the chart of $IWM: [Read more…]