The GMI is back to 6 (of 6) for the first time since August 10th. With so many great stocks breaking out, maybe this rally will continue. Thursday was the 3rd day of the current QQQQ short term up-trend. I am gradually going long on individual stocks and on the ultra long QQQQ ETF, QLD. QLD aims to move 2x as much as the QQQQ. This leverage can, of course, cut both ways. I posted about TTM a while ago. It looks to me like it may be getting ready to break to new highs.
Dr. Wish
Cup-with-handle alert: GMCR
GMI stats are in today’s prior post. It looks like GMCR may be breaking from a nice cup-with-handle base (click on chart to enlarge).
Let me know if you want more alerts like this: silentknight@wishingwealthblog.com
Seccond day of QQQQ short term up-trend; longer term trend now up too.
The GMI remains at 5 (of 6) but the longer term trend for the QQQQ has just turned up. The GMI did not move to 6 because one of its components turned negative (successful new high index). Nevertheless this market is starting to look strong. So many stocks that I follow or own are now moving up: NTAP, AAPL, APKT, PANL, VRX, ARMH, PPO, AMT, TTM, VIT, NFLX, GMCR. So I am accumulating QLD (the ultra long QQQQ ETF) and waiting to see if this new up-trend can hold. Just in case, I am wading in slowly.