QQQQ short term up-trend reaches 30th day; tech leaders sputter; RWB stock: FIRE

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The sell off in tech stocks Monday night after earnings were released is a warning sign, but all of my indicators remain positive and the up-trends are intact.   Still, as a trend trader I rarely get out at the top, only after the trend has reversed. It will be important to see where support comes in for the leaders. A   stock that came up in my scan Monday night is FIRE. It may be breaking from a base and starting a new RWB run, as this weekly chart shows (click on to enlarge). It also has a promising monthly chart. I have not researched it yet, but if I bought FIRE, my sell stop would be near support, around 26.89.

4 thoughts on “QQQQ short term up-trend reaches 30th day; tech leaders sputter; RWB stock: FIRE”

  1. Dr. Wish, it is interesting that you only say what you “BOUGHT” and then brags when it is high NOW. Past tense is very useful. I can also look back pick a stock that has gone way high, and state that I bought options on it or bought it when it was down, and profited handsomely. Why don’t you tell your students what you are buying NOW. This is just my observation!!

  2. I do not give out tips. I try to teach people the tools I use so they can learn for themselves how to handle the market. There is no quick way to trade profitably. If you can look back on your past trades and find those where you “profited handsomely” then you do not need tips from me and maybe should start your own blog. Furthermore, the fact that my accounts are at new highs suggests not only that I have profits, but that they exceed my losses on other positions. Controlling losses is the key to trading success. Please pardon my “bragging,” I did not mean it so, and thank you for your comment.

  3. jasons pathetic, hes prob just been short the last few weeks get a life buddy…and Dr. wish, i usually take a look at ur blog in the morning and agree with a great deal of what i read…thank you for your thoughts

    -David Rosengard
    (Ben’s brother)

  4. No shorts here. The only one I have now is AAPL, bought at $160 per sh months ago. You also have had it in your watch list for some time. Have you ever bot it?

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