4th day of QQQ short term down-trend

GMI1/6
GMI-22/8
T210846%

While many techs bounced on Thursday, the QQQ remains in a short term down-trend.   IBD still calls the “market in correction.”   I remain largely in cash with my few long positions protected by put options.

4 thoughts on “4th day of QQQ short term down-trend”

  1. I buy a near month put option with a strike price near my purchase price. In that way, I have 3-6 weeks during which I can sell (put) my stock to someone near the price I paid. I therefore have this time period to wait for the stock to rise and prove itself, without getting stopped out and or whipsawed. The negative is that my break even point is higher because I must add the cost of the put to the cost of the stock.

  2. Am I correct in assuming your short term trend references the close relative to the 30 day sma or does it include your GMI readings also?

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