It looks like the up-trend is ending; Short and in cash
GMI and GMI-R are both at 1. Another weak day for the QQQQ on Friday will turn these indexes to zero and begin a new short term down-trend. Time to be short and in cash. Over the weekend I will prepare a list of submarine stocks that may be about to dive.
You can contact me at: silentknight@wishingwealthblog.com
Comments ( 3 )
jason added these pithy words on Fri, 6-25-10 at 7:17 amthanks for the timely updates!
David added these pithy words on Fri, 6-25-10 at 8:15 amGood Morning, I am the brother of one of your past students, Ben Rosengard. He introduced me to your blog a few weeks ago, and I agree with a great deal of your comments. My one question for you regarding your last post is what do you think the probability is of a positive outcome of the G-20 meeting this weekend for the markets? I can understnad the huge cloud and mystery surrounding this meeting making it almost impossible to predict what will occur. Obviously the price action of the last few days explains why you have not only moved into cash, you have now put on shorts. But I was wondering if you have any belief of a negative result from the G-20 Meetings.Please get back to me when ever it is convenient for you. Have a good day!
Ewish added these pithy words on Fri, 6-25-10 at 11:16 amThank you for your important question. I am a strict behaviorist. I do not try to interpret the impact of news on the market. I prefer to try to stay with the longer trends and do not day trade. The market behavior itself will tell me how best to trade. Regards to Ben.
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