MichaelEugen1

Short idea #18- Why bet against trend?

Kort
AMEX:IWM   iShares Russell 2000 ETF
Hey all, I think IWM is going to drop in November; I am hoping it chugs slightly higher in the coming week as I am looking to short this name. This chart doesn't look particularly healthy, and it is clearly in a downtrend. I see no reason that trend won't stay intact, and I perceive IWM is going to be a very safe short when $SPY reaches $389/share. My predicted move is drawn out.
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