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With the new QQQ short term up-trend I am accumulating a little TQQQ. If this up-trend lasts, TQQQ is the way for me to ride it. TQQQ beats most stocks in an up-trend. The last QQQ short term up-trend lasted 42 days and TQQQ rose +34.9%, beating 95% of the Nasdaq 100 stocks and 99% of the S&P 500 stocks.  I will feel more confident of it if the up-trend reaches 5 days. With earnings season upon us, I think there is a good chance that it will. If it fails I will exit immediately.

Meanwhile here is the list of stocks on my IBD/MS watchlists that reached an ATH on Tuesday. The list is sorted by the last column, which measures today’s close/close 250 days ago. KGS did not exist 250 days ago and therefore returned a null result. Note that NVDA leads the pack, having more than tripled.

I wrote yesterday that 40% of new QQQ short term down-trends end in less than 5 days. I subsequently tweeted on Monday that it looked to me like the current down-trend might end on Tuesday. The market often declines before rising as earnings are released. I sold my small position in SQQQ and bought a little TQQQ. Almost all (91%) of Nasdaq 100 stocks rose on Monday and many tech stocks came to life. My scan for stocks having a blue dot (daily 10.4 oversold stochastic climbing back above 20) identified 79 stocks from my watchlist of stocks recently on IBD/MS lists. Included were well known stocks: CROX, ARM, TWLO, ROKU, DECK, DDOG, ADSK, COST.

Here is an example of a stock with a blue dot on Monday. If I buy one, I place my stop below the low of the bounce. Note the prior blue dot on October 31. Black dots are another oversold bounce signal I follow. To learn how to place dots on a TC2000 chart, see this video published by my late co-instructor, David McCandlish. Note that my parameters for the dots have been slightly modified since this video.

More than a year ago, my stock buddy, Judy, told me about QS. Judy had researched the company and was excited about the solid-state battery they were developing. This morning she called me to say that QS was rocketing higher on news with enormous trading volume and that I should buy some. She also noted that QS had a high short interest ratio signifying that many speculators will need to rush to buy shares to cover their short positions. So I bought a little at $8.02. QS subsequently ran up today to $10.03. I am holding the shares long term because, according to the news, the company’s tests of their battery have exceeded expectations and it may eventually become a major breakthrough product for EVs. Apparently Volkswagen agrees  since it has a position in QS. Way to go Judy! (The blue and black dots on the chart are my oversold bounce indicators and the “N” means I wrote a note after the purchase.) As with all new products there is risk from other competitors and it will likely take a while for the battery to be ready for mass production.