Comments on: 20th day of QQQQ short term down-trend; Rally on low volume http://wishingwealthblog.com/2010/06/20th-day-of-qqqq-short-term-down-trend-rally-on-low-volume/ A stock trading blog by Dr. Wish Wed, 23 May 2012 14:21:08 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: David Olson http://wishingwealthblog.com/2010/06/20th-day-of-qqqq-short-term-down-trend-rally-on-low-volume/comment-page-1/#comment-1694 David Olson Fri, 04 Jun 2010 20:02:21 +0000 http://wishingwealthblog.com/?p=2243#comment-1694 Closed the SRTY position at 55.4 after such a huge advance. Closed the SRTY position at 55.4 after such a huge advance.

]]> By: David Olson http://wishingwealthblog.com/2010/06/20th-day-of-qqqq-short-term-down-trend-rally-on-low-volume/comment-page-1/#comment-1691 David Olson Thu, 03 Jun 2010 16:31:10 +0000 http://wishingwealthblog.com/?p=2243#comment-1691 Dr. Wish: wanted to give you an update on my trading position. I am net short having purchased SRTY at 49.6. One of the biggest reasons for re-entering this trade is that the major indexes are below their 200 day moving averages and the Russell 2K has yet to follow suit. Also, the up days are on lower volume than the down days, put/call ratios keep skewing up on up days, inventories in durables goods are rising - which means consumers are not buying as much, and cash levels at retailers remain high due to higher sales of inventory than replenishment. In my analysis is that I think like a fundamentalist while trade like a technician, the danger in this is that correlation is not always causation, to that end, the technicals remain weak. David Dr. Wish: wanted to give you an update on my trading position. I am net short having purchased SRTY at 49.6. One of the biggest reasons for re-entering this trade is that the major indexes are below their 200 day moving averages and the Russell 2K has yet to follow suit.

Also, the up days are on lower volume than the down days, put/call ratios keep skewing up on up days, inventories in durables goods are rising – which means consumers are not buying as much, and cash levels at retailers remain high due to higher sales of inventory than replenishment.

In my analysis is that I think like a fundamentalist while trade like a technician, the danger in this is that correlation is not always causation, to that end, the technicals remain weak.

David

]]> By: Rick http://wishingwealthblog.com/2010/06/20th-day-of-qqqq-short-term-down-trend-rally-on-low-volume/comment-page-1/#comment-1690 Rick Thu, 03 Jun 2010 11:09:23 +0000 http://wishingwealthblog.com/?p=2243#comment-1690 Thanks for the timely updates. What was the number for GMI-R? Thanks for the timely updates.
What was the number for GMI-R?

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