JTS is giving an ultra rare 3rd consecutive short signal. So either this is January all over again and we go up forever, or we are going to make some money back next week.
Today would've been fine (read: no damage), except for TNA misbehaving...
Have a good weekend. I'm off to forget about this market until Monday. See ya then!
Thx JT!
ReplyDeleteThe R2k is in a bubble of extremely favorable seasonality just now, which is coming to an end. Per Tom Bowley, Stockcharts..
"The Russell 2000 tends to perform well for about a week beginning at the close on Monday. (ie. this past Monday -ed.) The five days thereafter have produced annualized returns of 37.2% over the past 24 years."
So IWM/TNA perf may revert to market perf next week, or even underperform...
Have a good weekend.
Market is waiting for Jackson Hole I guess, after QE3 is not announced the prices will fall. If it is (quite unlikely) then we are going to 1500.
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