MichaelRudelich
Long

Pullback, New High, then Sideways & Down

AMEX:IWM   ISHARES RUSSELL 2000 ETF
72 0 2
IWM             has pulled back for 2 days after a ridiculously strong bull trend. The pullback might last another day (or two). The odds are that it will make a new high, then evolve into a range, and probably drop off. Not sure yet how far up the new high might be; let's see how far the pullback goes first.
Trade closed manually: I sold my long position during the 3rd bear bar from the top (132.20). Waiting to see if there is another push up. For now I am day trading this index.
Trade active: We have gotten the new high. See Related Idea below for current strategy.
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