The GMI=2 and could flash RED on Monday.
Dr. Wish
Blog Post: Day 58 of $QQQ short term up-trend, it may end on Friday. Now we see if last Friday’s bounce will hold. $AMZN has a failed GLB, see daily chart.
Many tech leaders are being slaughtered. Many breakouys are failing. Not just techs are weak. See this failed GLB by AMZN after its large volume earnings gap up on 10/31. To remain a successful GLB, the stock must not close back below the green line. I am mainly in cash in my trading accounts, while holding a little SQQQ. I will add more SQQQ with continued weakness in QQQ on Friday and the start of a short term down-trend. I will accumulate SQQQ very slowly. Many new QQQ short term down-trends have ended within 5 days. I will add more after 5 days or go back to TQQQ with the start of a new short term up-trend. GMI is down to 3 (of 6).
Blog Post: Day 57 of $QQQ short term up-trend; Since day 1 on 8/25 QQQ +8.9% but $TQQQ +24.5%, outperforming 85% of NASDAQ100 stocks and 94% of S&P500 stocks. The 15 NASDAQ 100 stocks that beat TQQQ are shown below. Buy the haystack!
Rather than trying to predict the minority of individual stocks that will beat TQQQ, the needle in the haystack, why not buy the haystack? See Les Masonson’s excellent new book about TQQQ. Find his book listed in this blog page. These 15 stocks did better than TQQQ. MU did best with a gain of 110.36%. Almost one half (7) were semiconductor companies. Did you buy them on Day 1 on 8/25? Buying TQQQ on Day 1 is easier, but scary. You are buying at the beginning of a new up-trend, which you may not trust. I have replicated this analysis many times over the years with the same results.
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