Christmas is coming early for stock market traders as yesterday the S&P 500 closed on a new high and the Russell 2000 broke out. Of course Thanksgiving week tends to be the most bullish week of the year, but this technical action is nice confirmation for stock market bulls.
Take a look at the chart of the NYSEARCA: IWM ETF, which tracks the Russell 2000 small cap index.
There are many small cap stocks breaking out too and there is more action in the right individual stocks than in exchange traded funds. My favorite small cap stock right now is Aftermath Silver (OTCMKTS: FLMZF) and I made it my top stock pick of the month for November several weeks ago. Take a look at it’s chart.
Aftermath Silver also trades as AAG on the Vancouver stock exchange. It’s a small cap mining stock that has gotten even more attention this month as new that mining billionaire Eric Sprott took a big position in it broke.
This is an exciting week. It started early on Sunday for me as I did a special once a year Thanksgiving “Black Friday” offer for you to get my book Strategic Stock Trading at cost. I’ll even pay the shipping for you so shipping is free. To grab it before this offer sells out and ends (and beat the Friday crowd) just go here:
http://wallstreetwindow.com/strategic-stock-trading-book-offer
-Mike
Disclosure: Mike Swanson owns a position in Aftermath Silver. Because it is a small cap stock with less than $100 million in market cap he is placing himself on a voluntary 30-day trading restriction period from the date of this post in which he will not buy or sell shares of it.
