I've made a couple of potentially conflicting statements on IWM the last few days, please allow me to clarify:
1. I had said if the 20 held, look for 89-90 - didn't happen, don't see a bull run to that height for some time (weeks).
2. I had said - emphatically - to buy the 50; but I'm revising that. I have a buy stop set on new green value on IWM today; if not, I'm looking for a test of 80.
3. I had said - in that emphatic statement - that the bounce from the 50 was good to 85. I no longer hold that true, and if I get long today, I'm looking for an exit between 84 - 84.50.
Thanks; I need the discipline of clearly communicating when my stance changes.
Steve
IWM UPDATE - not so bullish.
Started by
CCL
, Apr 13 2011 12:36 PM
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