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October 28, 2009
Share ThisSmall-cap growth and value stocks have taken a heavy beating over the past week relative to the bigger names comprising the S&P500. Yesterday the the Russell 2000 Growth Index (IWO) failed at the 50 day SMA, today it took out the previous rally low of 62.71, and volume has been notably heavier on the down days recently. Not a good sign. Typically the small-cap indexes lead the larger ones, as investors sense the dwindling momentum and shift out of the volatile small-caps into larger more stable stocks. This divergence is not a good news for those hopeful on the continuation of the current rally.
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