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TF thread (Russell 2000) ... anything goes
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TF thread (Russell 2000) ... anything goes

  #891 (permalink)
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Looking for 73.9 now...with the current low of 63.4 I would be looking for 84.4 if 74.2 got hit.

If the current low gets taken out 84.4 would change....73.9 is still a valid target regardless.

As a side note, I wouldn't expect this to happen real soon based on all the hate that just happened....

Edit: forgot to mention that I'm thinking 61 should be absolute bottom of this drop (if current low doesn't hold)...could be wrong on that but that's what I'm looking at


Last edited by kbit; July 8th, 2014 at 11:26 AM.
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  #892 (permalink)
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TF

" Edit: forgot to mention that I'm thinking 61 should be absolute bottom of this drop (if current low doesn't

hold)...could be wrong on that but that's what I'm looking at"

I am also looking at this general area to see if longs make sense but waiting for Market internals to show some

buyers otherwise staying short after covering some.

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  #893 (permalink)
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TF


After trading CL day in day out for 3 years- never thought i will say i like trading TF. NQ etc better than trading CL. But

i do now because one can lean against market internals etc while trading TF, NQ etc.. This makes it easier for traders

like me who are not skilled at picking/forecasting levels.

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  #894 (permalink)
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I guess Portugal is responsible for this drop....Futures Tumble, Bunds Soar To Record, Gold Surges As Europe Is Broken Again; Espirito Santo Halted | Zero Hedge

I saw the news last night but didn't expect a reaction like this...could be interesting

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I guess Portugal is responsible for this drop....Futures Tumble, Bunds Soar To Record, Gold Surges As Europe Is Broken Again; Espirito Santo Halted | Zero Hedge

I saw the news last night but didn't expect a reaction like this...could be interesting

Actually I think it was because futures.io (formerly BMT) was offline yesterday and it spooked the market


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  #896 (permalink)
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failed A down

Failed a down long in front of extreme -ve market internals.

I guess rubber band was quite stretched and was ready for some snap back. Generally a move beyond 62% retracement is beyond my pay grade. In other words it's not worth the risk for me. A position which took 4 hours to

get somewhere can easily vanish in a NY minute. If market internals were not -ve, would have held some but not when they are -ve at best.

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Last edited by mfbreakout; July 10th, 2014 at 02:10 PM.
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  #897 (permalink)
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No big trades lined up...potential long at 53.1 but looks weak.
Overall still looking for longs but as we know it's kind of muddy water down here so not falling in love with anything yet.
On the daily chart (below) it could drop to the cloud but I'm thinking it might just go up from here...we'll see

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  #898 (permalink)
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Still stuck in the mud...I'm thinking tomorrows headline will be something like " obama's sanctions are hurting the market".

Or maybe nobody cares, hard to tell what gets reacted to. In any event I will be looking to go long around the 39 area at this point.
Not a strong reason for that, just sounds good.

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  #899 (permalink)
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Still stuck in the mud...I'm thinking tomorrows headline will be something like " obama's sanctions are hurting the market".

Or maybe nobody cares, hard to tell what gets reacted to. In any event I will be looking to go long around the 39 area at this point.
Not a strong reason for that, just sounds good.

My 39 plan was good for a few points but the hate continues...

Look for a return to 1130.2 if it gets to 1130.5 look for 1136.9 If it drops more than the current low of 23.8 the high target will change...1130.2 remains a valid target regardless.

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Unbelievable collapse in small-cap stocks


Small-caps tend to get lot of attention by traders/investors because of their tendency to outperform bigger companies over large markets cycles. Many of these companies tend to trade with less dollar volume compared with large-cap equities, are highly sensitive to domestic growth expectations, and can be seen as a good indicator of risk sentiment beneath the surface.

On the latter point, I know everyone remains mesmerized by the Standard & Poor’s 500 Index SPX -0.49% , but the reality is that many stocks in the U.S. have been struggling in 2014, with market cap being a key decider of just how tough it's been. The small-cap Russell 2000 Index RUT -.00% meaningfully underperformed the S&P 500 this year in a shocking way, causing them to give back all of their 2013 outperformance, and sending it's price ratio relative to large-caps all the way down to 2011 levels.

Approximately 24% of the Russell 2000 is made up of Financials, which we are underweight in our equity sector ATAC Beta Rotation Fund BROTX -0.54% . Take a look below at the price ratio of Russell 2000 ETF IWM -0.91% relative to the S&P 500 SPDR ETF SPY -0.07% . As a reminder, a rising price ratio means the numerator/IWM is outperforming (up more/down less) the denominator/SPY. A falling ratio means underperformance.

That is utterly brutal, and came out of nowhere. This implies two things which are important to keep in mind. First, we remain in an unprecedented environment. For small-caps to be collapsing this hard and suddenly is unusual when considering where the Federal Reserve thinks the domestic economy is headed. Second, if most money is hiding out in the S&P 500, then we are seeing a narrowing of attention by traders.

On that point, it is often said that the narrower a rally gets, the closer it is to nearing its end. While this will only be known with hindsight, it is worth nothing that "staircase up/elevator down" dynamics haven't disappeared. The relative collapse is a humble reminder that advances can be given back in a moment's notice when you least expect it, regardless of asset class, strategy, or cap.

And it may not be over just yet.

Unbelievable collapse in small-cap stocks - MarketWatch

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