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With the GMI back to 5 and the short term trend about to turn positive, it looks like we may have had another small and short lived correction. IBD still sees the market in a correction and is waiting for a follow-through day to this current snap back rally. I still think this rise could […]
It is too early to discern if Wednesday’s bounce from oversold will hold. This is likely a good opportunity for me to reduce my holdings in mutual funds in my university pension accounts. I am not willing to risk a return to the losses my 403 (B) sustained before yesterday’s bounce. Failure of this bounce […]
Market is getting very oversold. T2108 is at 27%, 598 daily new lows, 62% of stocks with an oversold 10.4 stochastic, GMI and GMI-2 both= 1. And yet the longer term trend of the market is still up, in a Weinstein Stage 2 up-trend. Based on my 45+ years of trading experience I think the […]
With the GMI at 1 on Monday, this marks two days below 3 and a new Sell signal. The QQQ short term trend also turned down. IBD signaled on Tuesday that the market is now in a correction. I am almost sold out of all of my long positions and hold some SQQQ. Time to […]
The GMI registered 2 after Friday’s close and will likely be 2 or less again on Monday, triggering a GMI Sell signal. If so, I will close out my few longs and accumulate a leveraged inverse ETF (SQQQ). The T2108 is at 36% and has a long way to fall before our markets are at […]
QQQ, DIA and SPY are all on support. Friday will tell the resolution. Meanwhile, in the midst of all of this market volatility, ALDR had a green line break-out to an all-time high on Thursday.
I wrote yesterday that it was critical that Tuesday’s bounce up off of support needed to hold on Wednesday to continue the short term up-trend. It did not, with the SPY and DIA leading the QQQ lower. Tuesday’s bounce was totally reversed. I am largely in cash in my trading accounts now as I wait […]
Stocks reversed up off of support. It is critical to this short term up-trend that these levels hold on Tuesday.
The GMI-2 has fallen to 3, reflecting the short term weakness in the major indexes. There were more new lows than new highs on Monday. I still have calls on SQQQ to hedge my long positions. Be careful!
Most of the stock gurus whom I respect have written that one can make the most money by investing in companies that have visionary, often revolutionary products. When Nicolas Darvas made millions in the 1950s he invested in rockets, as the country became involved in a race to space. Other more recent examples are the […]