I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Monday, January 11, 2010

Russell, My Friend, I Have Been Waiting For You

My last few posts on the Russell (Are You Ready To RUSSELLLLLL !!!!!, Heartbreaker, and Don't Pull Your Love Out on Me Russell) tell the tale of woe and heartache with my relationship with the Russell.

But in my last Russell post Are You Ready To RUSSELLLLLL !!!!! I had this to say:

Right now el RUT is at 642, so this projection looks like it has a good shot at playing out. Currently I am targeting the lower end of the range (650) based on how this last wave is unfolding (using a 0.62 5th wave termination estimate I get 649)

This morning we got to 648.40 (close enough for me). And it is just kissing that long term trend line. I got into some TZA (for the swing trade) and some long term Russell shorts in my long term portfolio. Again, this *very aggressive* behavior, and I would advise to anybody else to *WAIT FOR A BREAKDOWN CONFIRMATION*. Just letting you know my thoughts.

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