GMI flashes a Buy signal; LL to break out?

GMI5/6
GMI-24/8
T210852%

For the first time since early May, the GMI has flashed a buy signal.   While there are no guarantees that this buy signal will turn out to be significant, I have found that since 2006, when the GMI is greater than 3 for two consecutive days, it often gives a useful signal to go   long.   I have bought some QLD and have a number of long positions.   The QQQ short term up-trend has now lasted two days.   If it can hold on for five days I will be more confident of the new trend.   However, I am ready to act quickly if the new up-trend should fail.   I am now back to 100% invested in mutual funds in my university pension.

LL looks like another stock getting ready to break to an all-time high from a multi-month base.   Click on chart to enlarge. If LL closes above 33.41 on above average volume, it may be the beginning of a significant break-out.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.