New QQQ short term up-trend reaches critical 5th day. In the past, this has signaled a longer up-trend to come. I am slowly adding to TQQQ.
Dr. Wish
GMI back to 6; 4th day of QQQ short term up-trend; holding FB; I bonds for savings
It is never a good idea to fight the trend of the general market. With the GMI flashing a recent Buy signal and the QQQ short term up-trend likely to reach its 5th day on Monday, it is time for me to accumulate TQQQ. I also own some FB, which I will hold long term. FB rose 16% last week on relatively high trading volume. The QQQ and SPY have now closed back above their 10 week averages, a good sign of strength. I have a much better chance of making money on the long side when this is the case.
Speaking of making money, I wanted to remind my readers to look into government I bonds. These U.S. savings bonds are paying 1.76% and are a great way to earn more interest than one can get on a CD. I bonds have their interest rate adjusted each 6 months in accordance with the CPI-U. Therefore, unlike CD’s, the interest paid climbs if interest rates should rise. There are a number of rules regarding I bonds and one should read them carefully. For money being saved for 1 or more years, they represent a terrific option to me.
GMI flashes Buy signal; FB continues to rise
The GMI stayed at 5 on Thursday and switched to a Buy mode. This is because the GMI closed for the second day above 3. Thursday was the 3rd day of the new QQQ short term up-trend. I am slowly adding to TQQQ. If the new up-trend lasts through Monday, its 5th day, I will accumulate more TQQQ.
Meanwhile, FB continues to climb, up another 3.6% on Thursday. This daily Guppy GMMA chart shows that all of the shorter term averages (red) are now rising above the longer term averages (blue). 