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On the sidelines with small positions. Watching for definitive signs of a real turn. Meanwhile, here are two new Judy’s picks: SYSS, DDD. I have a position in DDD. Both of these have recently bounced off of support and are in the emerging 3D printer business. My stock pick buddy, Judy, loves this 3D concept.
The market remains in a short term down-trend within a longer term up-trend. I am mainly out of the market and in cash in my trading accounts and remain invested in mutual funds in my university pension. The time for me to be in stocks is after the GMI has given a buy signal. The [...]
Thank you for the terrific feedback I received on my video. If you received the post by email and could not access the video, please go directly to the blog site at www.wishingwealthblog.com and go to Monday’s post. I plan to post a video every Monday morning. We had a nice bounce from oversold on [...]
The put/call ratio is at an extreme level, about 1.3, implying a bounce soon. It is a contrary indicator such that when there are more puts than calls, like on Friday, the market is likely to rebound. And the T2108 is very low, at 16%. The GMI is now zero for the first time since [...]
Once the Worden T2108 Indicator falls below 20% the market is getting very oversold. The last time T2108 was below 20% was last October. Some bottoms occur around this area, but if it breaks below 10% I will start to go long QLD, even with a GMI sell signal in place. The market just does [...]
Mainly on the sidelines, in cash. Meanwhile, commodities continue to weaken. This weekly chart of the gold ETF, GLD, shows the deepening down-trend. Weinstein Stage 4 decline has begun. Click on chart to enlarge.
This is a good time to be on the sidelines. It is folly to fight the down-trend.
In cash. But check out IBD’s article on resurgence of housing. I found it after noticing the new home developments that are being initiated near my home. The builders must be sensing renewed demand.
