GMI rebounds to 4; on sidelines
In some of the most volatile market swings I have ever seen, the market rebounded again on Wednesday. The new GMI Sell signal could be reversed with a strong day on Thursday. Wednesday was the 5th day of the QQQ short term down-trend. IBD still sees market in correction. Best for me to be in cash for now.
Comments ( 3 )
Mark added these pithy words on Thu, 2-28-13 at 10:59 amTruth is no one knows when to buy or when to sell — Not even IBD. Even you are getting confused ! I believe no one but me
Peter added these pithy words on Fri, 3-1-13 at 12:55 pmI think you are looking too short-term on this market. This is a bull market, and I’m cashing in on it.
dasser added these pithy words on Tue, 3-5-13 at 5:17 amHello Dr Wish,
I appreciate your website and knowledge and moreso, your desire to share your wisdom and learnings. As a trend trader I also realise the value of the TREND and tide and I see what you have be trying to achieve with the GMI’s.
My question comes from the angle that these indicators seem to whip saw about. The key question for a trend trader being is the retreat a correction or a change in trend.Are you suggesting that when you buy you completely go to cash at GMI <= 3 ( as per yesterday ?) and then back to BUY as per today ?
It seems like there are many transactions and costs with a fast GMI .
The other question is do you resume the purchases you had before being exited via the GMI's ?
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