ETF Analysis TWM [Shorting Russell Index: AMEX]
Sector: Ultra Short Russell 2000 Pro Shares
Fundamentals: Russel 2000 and also most index are bearish long term. Can be visualized that current P/E trend as of second quarter of 2008 is higher compared to historic P/E average of 15.
Technicals: Bounced off from recent low of $63.09 on Sep 2, 2008 compared to $62.24 on August 15, 2008. Forming a MACD divergence and heading up to MA(40) weekly/ MA(200) daily in image below. Also, on August 18, 2008 formed a Bullish Continuation Wedge pattern with potential target of $88.00 within next 60 days.
Technicals: Bounced off from recent low of $63.09 on Sep 2, 2008 compared to $62.24 on August 15, 2008. Forming a MACD divergence and heading up to MA(40) weekly/ MA(200) daily in image below. Also, on August 18, 2008 formed a Bullish Continuation Wedge pattern with potential target of $88.00 within next 60 days. Cost basis: Bought at $65.57
Target: $75.41
Stop loss: $62.91 [Below Sep 2, 2008 low of $63.09]
Next Earnings: N/A
Last Analyst Rating: N/A
Other comments: Historically September is a bad month for stocks which is in favor for this ETF. 
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