Dr. Wish

If the QQQ stays level or rises on Friday my short term trend count will turn up again.   I remain fully invested in mutual funds in my pension account and am mainly in cash in my IRA and margin account.   If the up-trend resumes I will buy some QLD.   The Worden T2108 is 71%, in neutral territory.

I bought some AMZN on Thursday when the stock regained its 30 day average (red solid line) after an oversold 10.4 daily stochastics reading (not shown). I will exit the position if AMZN comes back below this critical average. Note the green line showing that the stock is in it top box above its latest base at an all-time high. I am looking for a rise to the top of its Bollinger band, around $263.

I am much more comfortable with   a change in trend when it reaches 5 days.   However, given the weakness we have experienced the past few days, I went to cash in my trading accounts.   Several of my green line break-outs have failed, not a good sign.   I am content to wait for the market to clearly show me which way to trade. The GMI is now at 3.   It would have to be less than 3 for two days to provide a sell signal. So my long term pension accounts remain fully invested. IBD still sees the market in an up-trend.

The MarketWatch contest people published my article on green line chats without the chart!   Below is the AAPL chart I was referring to in my submission.   Please vote for my column by clicking here and selecting “like.”

I have entered the MarketWatch contest to find the next great market writer.   The winner will publish a column on their site. If you would like to see my market strategies get more exposure on their site, please select this link and vote for my entry about green line charts.   Thank you in advance to all of my readers.