The Russell 2000 Is Crap

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July 7, 2008

I was lucky enough to sell my NDX portion of my index funds this morning while it was up nearly 3%. That profit helped offset the loss I took in my RUT portion where I ate a 2% loss. The problem I had was that I was RUT heavy. I was this close | | to cashing out of the RUT this morning and it would’ve been perfect.

The NDX closed in the green, but the RUT closed down weak again.

I bought UWM intraday as well around the bottom @ 42.8. However, the market sold off hard within the last 7 minutes of the day. So UWM closed back down to 42.79 exactly.

So I’m long UWM and the RUT index position for tomorrow. I’m seeing extreme oversold signals, yet the market can hold out another week longer.




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