The QQQ is getting weak and is on support. A few more down days could end the QQQ short term up-trend. I reduced my position in TQQQ on Thursday. Meanwhile, three oil/gas pipeline stocks hit my scans Thursday night: KMR, PAA and WES. Given their strength, I am considering buying one on Friday. This daily chart of KMR looks promising to me. Note that KMR had a recent green line break-out and then consolidated at that level for weeks. Thursday’s break above its narrowing Bolinger Band channel may be significant.
I will be at the Worden Workshop on Friday. Please say hello if you attend. You can register for free at worden.com.