5th Day of QQQQ Short Term Down-trend; QID and Cash

GMI1/6
GMI-R2/10
T210833%

GMI and GMI-R unchanged.   Tuesday was the 5th day of the new QQQQ short term down-trend. Own a little of QID, the ultra short QQQQ ETF. Still mainly in cash.   Good time to be on the sidelines in my trading account.

4 thoughts on “5th Day of QQQQ Short Term Down-trend; QID and Cash”

  1. Eric, I read you just to get a different point of view but, based in your previous postings, I don’t believe you’re totally in Cash now…or else you took a loss! i.e, I don’t believe everything you say! Sorry.

  2. I think that the market is going to come back. The bounce of the major indicies off of the 30 week average and the oversold conditions is very positive. It looks like the major indicies are going to close above the 10 week today which is also very positive. Considering that the selling in the past week was on high volume it would be nice to see higher volume over the past few days but it’s important to note that the recent volume has still been above the 50 day avg for most indices. I began to go long in several ETF’s + NFLX yesterdayay…with close stops of course.

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