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Jan 27.15 / Dr. Wish
3rd day of $QQQ short term up-trend; $KITE soars

The QQQ reversed down from resistance on Tuesday.  With AAPL rebounding after hours it remains to be seen whether this strength will rescue the QQQ on Wednesday. The SPY and DIA are much weaker. Wednesday’s close of the QQQ will be very important to discerning the short term trend of this market. Maybe I should […]

Jan 26.15 / Dr. Wish
2nd day of $QQQ short term up-trend; $NVIV, a Judy’s pick

Tuesday night we learn whether AAPL’s earnings can lead the QQQ through resistance. Meanwhile the bio-techs continue to show strength. My readers know that I rarely buy cheap stocks. I do make an exception when my extraordinary stock picker buddy, Judy, tells me about a small, young company that has a promising product. Enter NVIV […]

Jan 22.15 / Dr. Wish
14th day of the $QQQ short term down-trend–new up-trend possible on Friday

IBD says market up-trend has resumed.  A strong day on Friday could result in a new QQQ short term up-trend and a Buy signal from the GMI. The QQQ still has not broken out of its descending channel, shown by the magenta lines below. Will it happen on Friday?

Jan 21.15 / Dr. Wish
13th day of $QQQ short term down-trend; critical test coming

The Major indexes stopped just short of key resistance levels. Thursday they will either close above them or start to fall again in a meaningful decline.

Jan 20.15 / Dr. Wish

Jan 15.15 / Dr. Wish
10th day of $QQQ short term down-trend; oil gave false hopes; REITs–$VNQ

UWTI fell on Thursday on higher volume than it rose the previous day, thus contradicting what I said in my prior post.  Perhaps it is better to sit on the sidelines and wait for definitive signs of a turn in oil. They finally got to the strong biotechs on Thursday. I closed out many of […]

Jan 14.15 / Dr. Wish
9th day of $QQQ short term down-trend; $UWTI has high volume bounce–bottom for oil?

I have written that one way to play a possible bottom in oil is to buy the 3X leveraged bullish oil ETF, UTWI.  On Wednesday, UWTI rose 10.71% on unusually high trading volume.  Check out the daily chart for UWTI. Is this the beginning of a bottom?  With so many media pundits  rushing to lower […]

Jan 13.15 / Dr. Wish

Jan 08.15 / Dr. Wish
Day 5 of $QQQ short term down-trend; GMI to turn again?

IBD has called the market back in an up-trend. Another up day could turn the GMI to a Buy signal. I have rarely seen such volatility. I did say that more than one half of QQQ short term down-trends have lasted under 10 days. This daily chart shows the recent GMI signals (by the arrows). […]

Jan 07.15 / Dr. Wish
4th day of $QQQ short term down-trend; selling cash secured puts

Perhaps one of the best teachers of option strategies is Alan Ellman.  He has specialized in teaching people to sell covered calls, a conservative relatively low risk option strategy. Alan just published a new book on selling cash secured puts. This technique can be used to generate income or to buy a stock at a […]

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