Posted Monday, September 24, 2007 @ 12:01 am by Dr. Wish
GMI: 6; Writing new covered calls
The GMI is at a maximum of 6 and the up-trend of the QQQQ is in its 16th day. I am holding QLD (the Ultra long QQQQ ETF), and a few long positions. 90% of my covered call positions were called away from me this weekend and I am back in cash. Time to write new covered calls on IBD100 stocks this week and to enjoy this up-trend. As Marin Zweig showed years ago, never fight the Fed.
Comments ( 1 Comment )
ari5000 added these pithy words on Mon, 9-24-07 at 12:12 pmyou were right on — nice call — nice system…
I am long too now. Can’t fight the trend.
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