GMI still 6; waiting on options expiration

The GMI is still 6.  However, there were more new lows (159) on Wednesday than I have seen since last March when the Februrary rout ended.  Still, there were also 138 new highs in my universe of 4,000 stocks.  All up-trends I follow are still in place.  The Worden T2108 indicator fell a little, to 49.5; markets get toppy around 80.  The market pendulum is right in the middle between the bull/bear extremes.  On Saturday, most of my stocks will be called away and I will be back in cash and ready to write new August calls.  In addition, I am still long GRMN, FTO and AAPL, and short OMX.  Many oil stocks bounced off of support on Wednesday…

See my disclaimers on my prior post.

1 thought on “GMI still 6; waiting on options expiration”

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