QQQ short term up-trend reaches 4th day; buying a little QLD
I have found that if the a new QQQ short term up-trend lasts 5 days, it often will continue for more days. I am very slowly wading into this up-trend with a small purchase of QLD, the leveraged bullish ETF that is designed to rise (or fall) twice as much as the QQQ. If the up-trend continues, I will add to my position. If it fails, I will quickly exit. I know the longer term trend remains down, but the shorter term trend, by definition, turns up before the longer term trend. I remain in money market funds in my university pension.
Comments ( 2 )
justin added these pithy words on Wed, 9-14-11 at 2:18 pmI mis-read your signals. It appears the Market is exhausting our post-9aug “corrective flag”, i.e., volume due to flash trading. I appreciate “slow wading” and “quick exit”. Care to spend a few words quantifying them?
marketing revolution added these pithy words on Wed, 2-29-12 at 11:44 pmAw, this was an extremely good post. Taking a few minutes and actual effort to produce a really good article… but what can I say… I procrastinate a lot and don’t seem to get anything done.
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