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Russell 2000 Relative Strength Going Too Far
#1
Posted 19 July 2024 - 06:47 AM
"...It takes a lot of energy to make investors mount a rush into small caps like this, and it is possible for that rush to go too far and exhaust itself. We saw a similar exhaustion event back in December 2023, and it led to an early January 2024 pullback. That is the risk for the momentum chasers who are participating in this rush.
Tom McClellan
Editor, The McClellan Market Report
https://www.mcoscill..._going_too_far/
#2
Posted 19 July 2024 - 07:26 AM
I wonder if a lot of it are young people looking just to make money as I heard that the top 10 stocks didn't even make any money, very speculative. Even my son does some crypto and small stocks on an ap on his phone, its like whoever starts talking about a stock the more it builds like a pyramid scheme and the last guy in ends up being the biggest loser lol!! Anyhow joined you overnight building my short at 5605 and will add if we go up at all but so far its looking like it will be a quiet expiration.
#3
Posted 19 July 2024 - 07:40 AM
Out of my short for a 5 point profit will sell a little higher once again as we go into the cash open