Posted Wednesday, May 27, 2009 @ 9:26 pm by Dr. Wish
Whip-sawed, staying in cash, new QQQQ short term up-trend?
Well, the QQQQ short term down-trend lasted only 2 days. Now, my indicators suggest a new short term QQQQ up-trend may have begun. This is a very difficult time in the market and it is wise to go very slowly with the trend. I always wade in slowly and add more as a trend proves itself. I am now almost totally in cash and will wait for more signs of a strong trend. The only stock I hold is ASIA, with a stop loss/trigger below $20. There are times when it is best to wait on the sidelines. There is plenty of time to jump on a trend, if it is real. After a trend persists for 5 days, I become much more confident in its strength.
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