18th day of $QQQ short term up-tend; waiting for July, $AMBA shines

GMI4/6
GMI-24/8
T210835%

While the longer term up-trend remains intact, I have reduced my long positions in my active trading accounts. My longer term university pension accounts remain invested long in mutual funds. I am still expecting some weakness in June while we wait for the release of second quarter earnings in July.

On the other hand, IBD says the put/call ratio reached over 1 on Thursday, indicating a lot of bearish option trades and a place where the averages tend to bounce up. Maybe Thursday’s decline was over-done. AMBA sure held up, showing that people are still following good earnings news.

AMBA06042015

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