I remain cautious in my IRA trading account because this rise is occurring on relatively low volume and most leading stocks are not participating. IBD still reports, “market in correction, ” because we have not had a rise in the indexes on higher volume than the prior day. Nevertheless, the GMI is at 6 (of 6) and there were 472 new highs on Thursday in my universe of 4,000 stocks. The longer term trend remains firmly up and I remain 100% invested in mutual funds in my university pension.
I’m glad to find another trader who reads the IBD!
I would say my market outlook is the same. I’m sitting in cash and don’t have any direction trades on right now.
Some of my readers were asking about covered calls so I was doing some research and found your site. I’ll be sure to send them over.