Russell 2000 Slumps Into Red For 2014; Gold Is The Best Performing Asset Of The Year … So Far

Russell 2000 Slumps Into Red For 2014; Gold Best Year-To-Date (ZeroHedge, July 11, 2014):

The Russell 2000 closed down almost 4% from last Thursday’s early close – its worst week in 3 months (and in the red year-to-date). The Nasdaq miraculously scrambled back to unchanged from Payrolls but all major indices closed red for the week. Away from stocks, the USD closed unchanged (with notable CAD weakness and JPY strength). Treasury yields tumbled 13bps on the week – the most in 4 months. Gold and silver rose 1.3% on the week to new 4-month highs (6th green week in a row) as WTI Crude slumped back under $101 (-3.3% on the week). VIX rose around 2 vols back above 12 as “most shorted” stocks plunged over 5% – the biggest weekly drop in 25 months! VIX was slammed lower late-on to give the impression of confidence in stocks into the weekend but credit was notably not buying it at all.

The “most shorted” stock double-top appears to have confirmed… with the worst week in over 2 years!!

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Gold is the best performing asset of the year as oil tumbled (and silver overtook stocks)

 

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