iBankCoin
Joined Jan 27, 2008
6,906 Blog Posts

Small Cap Stocks Setting Up For Another Leg Higher

The Russell 2000, the index that measures small cap stocks, the riskier stocks, is setting back up to test all-time highs. We could see a pretty significant break here given we’ve traded in a tight range over the last few months. Take a look at this beauty:

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Also, should we get help from oil, and get the basic material sector juiced, we could see a perfect storm for stocks. Here’s a short term view of the commodity:

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In the event we do indeed see oil trade to the upside, it would be wise to take a look at $RIG down here. The stock has been flagged on both my runner screen as well as my hybrid screen inside Exodus. This is normally a recipe for a melt up in prices. Full disclaimer: I’m long $RIG

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Let’s see if we get a breakout in the Russell here, if we do, I’ll chime in with one of my favorite small cap screens.

See you guys at the open.

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3 comments

  1. thegametheorist

    Started a new long in RIG on Wednesday. Guess we were seeing the same thing! Good to know!

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  2. Moosh

    Check out $MOO. Crazy. $NE is my nuke of choice. The goldsacks are chomping at the bit.

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  3. ammy hour

    IESC is my small cap stock of choice. Shares board members with PATK and now following a similar acquisition strategy. Charts not bad either.

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