Dr. Wish

The indexes held on Wednesday.   While the GMI is 5, the GMI2 is only 1. IBD sees the market in a correction. I am therefore waiting for the Supreme Court’s decision on health care before I commit funds to the long side.   Until then, I am content to remain largely in cash.   The only exceptions are my holdings in ASPS and DDD.   DDD hit another high on Wednesday after announcing some good news about receiving certification of its products for healthcare applications. This news must have been behind the stock’s recent strength. Check out the weekly and monthly charts for DDD that I posted on Wednesday morning. ASPS closed Wednesday just below its all-time high of 72.61.

ALXN hit a new high on Wednesday and appears to be breaking from a nice base. Check out this weekly chart.

Many of you have asked me if I   might teach them some of the material I teach my students at the university.   Well, AAII has asked me to conduct a workshop in July in Virginia.   Check it out at this link.

The QQQ short term up-trend is still intact–barely. I am waiting to see which way the market resolves itself.   I am mainly in cash in my trading accounts. I remain 100% invested in mutual funds in my university pension. IBD calls the market back in a correction.

On May 24, I wrote about DDD,one of Judy’s favorite concept stocks.   DDD was trading around $30 per share. DDD is in the exciting 3D printing business.   Check this technology out, it is not like printing a 3D picture!   Even in this volatile market DDD has held up beautifully and it hit a new all-time high on Tuesday.   I own some of this stock and   plan to hold it for a while as a longer term investment. Check out this weekly chart.

And this monthly chart:

If the QQQ remains flat or down on Tuesday, the new short term up-trend will have ended.   I am cutting back on my longs and becoming very cautious.