Posted Monday, June 22, 2009 @ 9:34 pm by Dr. Wish
Short term up-trend in jeopardy
Monday’s carnage reduced the GMI and GMI-R, and the short term up-trend in the QQQQ is in jeopardy. The longer term weekly up-trend and Stage 2 up-trend are still intact, for now. There were only 4 new highs and 12 new lows in my universe of 4,000 stocks on Monday. The Worden T2108 indicator is now at 35%, and most declines do not stop at this level. Typically, declines end with readings below 25%. I got stopped out of several positions on Monday. This is not the time for bravery, but for close stop losses, in case things decline more.
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Comments ( 2 )
Joseph added these pithy words on Mon, 6-22-09 at 10:10 pmWhat happened to stock ASIA that you bought and now is back at your entry price????
Dr. Wish added these pithy words on Tue, 6-23-09 at 6:36 amAs I indicated on a response to a prior comment, I was stopped out just below 20.
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