I noticed something kind of interesting this morning about the ultra-bull ETF for the Russell 2000. Take note of the horizontal line I've drawn, along with the touch-points. Before the crash (Tim's eyes grow misty and wistful..…..) UWM kept hitting this line, until it finally broke through gloriously on October 2, 2008.
Since the bottom, it climbed 300%, peaking on April 26, 2010 before slipping in a sustained downturn (remember those?). It has since clawed its way back up to this same line.
It seems accepted as gospel that stocks will never go down for more than one day again in our lifetimes, but I think this chart is worth noting.
