2/03/2012 @ 11:28AM
Notable ETF Inflow Detected - UWM, FLWS, FUBC, DDD-ETFs covered at ETF Channel, one standout is the Proshares Ultra Russell2000 (AMEX: UWM) where we have detected an approximate $59.4 million dollar inflow — that’s a 25.7% increase week over week in outstanding units (from 5,550,000 to 6,975,000).
TIME:
Here is a 1yr chart with the Fib weeks noted at highs and lows. FIB Week 21 is the week of the 27th; the upside target on weekly is $50. (Can UWM go 12% MORE in 2 weeks??)
Candles are volume candles, reflecting the days move and the amount of volume in the day. You can see a MASSIVE amount of purchases on Feb 1st.
FROM where is the buying coming from and WHAT do they see that is so GREAT? Russell companies are THE MOST speculative and for sure the 1ST TO BE AFFECTED in any credit event; should one occur.
This 3 month weekly volume candle view is even more impressive. MONSTER volume came in December; Russell gained 35% in a MONTH, THEN ANOTHER EVEN BIGGER volume purchase came in Feb. WOW!
Conclusion:
Its clear massive amounts of monies are flooding into the Russell 2000; buying more at higher and higher levels. It is also clear that a major FIB date is approaching fast.
I believe these figures back my contention that the next pull back will be a 4th wave of 5 waves higher, not a 1st wave of 3W down.
I doubt the ability of UWM to do 12% higher by next week to reach $50. Most likely will reach R1 or R2 on daily targets, complete a 4th wave pullback, then attack the $50 mark by JUNE to complete this Bull run.
Tim Kathlina
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