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$IWM – Russell 2000 ETF (Last:225.78)

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Our attention is wasted looking for this dog to break out, since it has been going tediously sideways since January. Hope springs eternal, of course, but we needn’t take unnecessary risks to indulge it. It’s simply a matter of when the chimpanzees agree that ‘value’ stocks should be in vogue once again. They’ll let us know after they’ve goosed it beyond easy reach, implying that the only way to get aboard is when it is going tediously sideways. However, the very rightmost edge of the chart — the last four bars, actually — contains the impulsive rudiments we would need to attempt this.  Query me in the chat room and I’ll explain with a more detailed chart. _______ UPDATE (Oct 12, 9:58 p.m.): The 30-minute chart has stopped out bulls no fewer than three times since last Thursday, implying that IWM is trying hard to break out with no fans aboard. We probably won’t be either, since catching a ride with risk under tight control is too labor-intensive for a vehicle that few subscribers seem to care about. ______ UPDATE (Oct 14, 11:24 p.m.): How very shocking. IWM opened on a gap this morning that would have left any hesitant bulls choking on dust. Let’s see how far DaBoyz can take this short squeeze on a Friday. Wherever it stops, it is guaranteed to be too dangerous a place for taking a position over the weekend.

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