QQQQ rally continues, in 14th day and up 8.7%, but 3X emerging bull ETF, EDC, up 28.2%
There were 11 new highs and 4 new lows in my universe of 4,000 stocks on Monday. Five of the 11 new highs were on the IBD100 list from March 30: TNDN, NFLX, GMCR, NTES and CPSI. All of these but CPSI hit all-time highs, an extraordinary accomplishment, given the market’s decline over the past year. Any stock trading today at an all-time high is probably worthy of attention. I own GMCR and NFLX. One other stock on the new high list Monday is TSYS, which I wrote about months ago. It has huge recent earnings increases and has been in a steady up-trend.
I am putting more and more funds back into the market as this up-trend continues. By my indicators, the QQQQ just completed the 14th day of its short term up-trend. During that time, the QQQQ has advanced 8.7%, while the ultra long QQQQ ETF, QLD, has advanced 17.6%. During QQQQ up-trends I buy QLD. During this same time period, the emerging markets bull 3X ETF, EDC, has advanced 28.2%. Those who say the 3X ETF’s are worthless as trading vehicles (as in J. Cramer) should look at these data.
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