I received few comments regarding my trading philosophy. Does that mean you all agree with me? Your comments really do make a difference and inspire me to continue this blog. So, please keep them coming. In a few weeks I will begin teaching two courses on TA at the University of Maryland. I expect that many of my students will be following this blog and I will probably post more content. The GMI is at
General Market Index (GMI) table
Up-trend continues; some Darvas rocket stocks; daily stochastics declining
There are a number of stocks that came up in my “Darvas Scan” that are trading near five year highs and have good technicals and fundamentals. These stocks include: NEU, PCLN, AMZN, NFLX, EGO, LZ, CML, ABV, CBD, WCRX, EW, WES, CPLA. Some of these stocks may turn out to be rockets if the market up-trend continues. Meanwhile, the GMI
Market up-trend back on track after bouncing off of Bollinger band; Gold shines, STEC falters.
Well, the indexes again bounced off of their lower Bollinger bands and the market’s short term up-trend resumed. Note the 5th bounce that I just added in red to the chart I posted on 10/19 after four bounces. 
Review that post if you want to understand the logic of Bollinger bands. If only I had the patience to wait for the bounce to enter my long positions! Maybe next time. The QQQQ is even back above its 10 week average! So, as much as I hate being whipsawed by the recent decline, if I flew solely by instrument, I would have to be long again. But watch out for a possible right shoulder forming in a head and shoulder pattern. If the QQQQ falters before it surpasses the peak reached on 10/21, we could see a large drop, especially if QQQQ closes below the neckline, around 40.6 . So, if I go long, I will place some close sell stops and monitor QQQQ’s progress very carefully. Meanwhile, the GMI is