$FLWS to bloom for Valentine’s Day? 63rd day of $QQQ short term up-trend; GMI is Green and I added a component to GMI2

GMI6/6
GMI-27/8
T210869%

FLWS (1-800 Flowers) popped up in my scan for promising oversold stocks this weekend. With Valentines Day coming and people afraid to visit stores, is this business primed to blossom? Note it had a recent retest of its GLB to an ATH after it broke through its 1999 top and may now be getting ready to grow from oversold, as the green and black dots suggest. If one had bought the stock when it cam public, s/he would have had to wait 20 years to get their investment back! That is why I only buy IPOs when they have a GLB. It also had a WGB, not shown. Note also in the monthly chart below that it had increasing trading volume the past year.  Buying an up-trending stock that may bounce from oversold levels can be a minimal risk strategy if one sells quickly if the stock breaks its nearby support. FLWS’ earnings are projected to grow +66% in 2021 (MarketSmith). Next earnings are expected 4/29/2021……..

I have added a 9th component to the GMI2. The GMI2 table exists to remind me each night to check its components. I do not use the sum of positive components as a signal, the way I do with the GMI.  So don’t worry about the change. The new component measures if  the 10.1 daily stochastic is <= 20, designating a very short term oversold level. The 10.1 moves faster than the other stochastic component, the daily 10.4. I have found that in a market up-trend, when the major indexes or individual stocks correct, they often bottom or bounce when these stochastic indicators become very oversold. My green and black dot indicators on my charts rely partially on these daily stochastic indicators. The stochastic indicators help me to time my entrances, but their overbought signals do not work well for timing my exits…….

The GMI remains Green and at 6 (of 6). The SPY has closed back above its 10 week average, after a one week detour.

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