Editor's note: This is an excerpt from today's Morning Newsletter by CEO Keith McCullough.
The other thing crystal ball is telling me this AM is don’t short the Russell 2000 today. #Pardon? Yes. You heard it from whatever this transparent ball is that I am rubbing this morning first! Do not short the IWM because:
- After another swift -3.1% correction, the Russell 2000 is signaling immediate-term TRADE oversold
- The inverse of that beta trade (VIX) is signaling immediate-term TRADE overbought at 20.59
- Hedge Fund Consensus is short the Russell (IWM) vs long SPY