Blog Post: Day 1 of new $QQQ short term down-trend; 29 US new highs and 180 lows; 20+ year treasury bonds, $TLT, continue to crumble as rates rise, see chart, time to go fishing…

@ 9:15 pm
GMI2/6
GMI-21/9
T210822%

The market cannot compete with high interest rates. Investors abandon stocks and hide in safer government debt or high yield savings accounts earning 5% or more. Only 6 stocks hit an ATH on Thursday. This is not the time to buy and hold stocks at new highs. Breakouts are failing. Jesse Livermore would go fishing or go short….

2 thoughts on “Blog Post: Day 1 of new $QQQ short term down-trend; 29 US new highs and 180 lows; 20+ year treasury bonds, $TLT, continue to crumble as rates rise, see chart, time to go fishing…”

  1. Dang. Should of bought SQQQ instead. Sold my TQQQ early on with a small loss. This market wants more bear. Probably due to interest rates going higher.

  2. “Jesse Livermore would go fishing or go short….” good one HAHA! Yah, things are looking shitty ATM.
    But a at least a relief bounce should be in the cards at this juncture, no?

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