Goldtent TA Paradise

IWM

1. Gold Learner says:

   November 16, 2023 - 12:47 pm at 12:47 pm

   Yes, Sir Fully.
   Having observed “manipulation” in PMs, I was smelling such a manipulation in the Russell/IWM.
   As you can see, today Russell is lagging S&P/Dow/Nasdaq by a big %age.

   It seems some major player that had shorted the IWM was forced to cover.
   I can’t find any other valid explanation.

   In other more important PM news, Sir Pedro has given a much valuable confirmation on SILJ here: https://goldtadise.com/?p=600032

   GL

2. YYZ says:

   November 16, 2023 - 2:47 pm at 2:47 pm

   Thought here was that it’s caused by MASSIVE short covering amongst retail traders caught flatfooted (considerably less ‘informed’ than those who drive the major indices). Russell 2k is a much broader pool of stocks and harder to juice or smash by efforts at the Fed’s (& world CentralBank) trading desks. That’s my $0.02 anyhow.

   • Gold Learner says:

     November 16, 2023 - 8:45 pm at 8:45 pm

     My point is that short-covering driven rallies should not peter out in such a small time frame. The rallies in S&P and Nasdaq have shown a lot more strength. But the moves in Russell dwarfing those in S&P and Nasdaq is a rarity. Given that the Russell index has many more stocks which are not doing so well.

     Many, including the famous Big Short, were short the S&P and Nasdaq, and Mr Burry has just announced that he closed his huge short position(s) for big losses. I have no way to know if he was short the Russell too.

     Time will tell if we just experienced an intermediate cycle or half cycle of the shortest possible time duration in the Russell. If that is the case, and Russell continues lower from here on, it would lend credence to the theory that this was a manufactured rally.

     My 0.02

     GL