Since the first day of the new QQQ short term up-trend, the QQQ has advanced + 6.5%, but TQQQ is up +19.9%. Only 5 of the NASDAQ100 stocks advanced more than TQQQ. I buy TQQQ because I cannot identify in advance the five stocks that could beat TQQQ (WDC,MU,KLAC,SYMC and SBUX). Only 13 (under 3%) of the stocks in the S&P500 index rose more than TQQQ. I also write weekly calls on TQQQ and SPY.
I had a wonderful time presenting to the DC metro chapter of the AAII in Virginia. I was pleasantly surprised to see that the youngest person there was a former student of mine who attended with his father and uncle! David and I presented slides from our undergraduate course and we focused primarily on investing in index ETFs rather than growth stocks. This conservative strategy was most appropriate for a largely gray haired audience, like myself. What a terrific audience. I also announced that David and I are planning a free multi-week lunchtime course on stock trading at the University of Maryland library that will be open to the public. I will announce details here in December. The course will be planned for spring semester next year. The toughest problem will be navigating and parking at the campus. I realize that I did not tell the audience about an extensive webinar I did for a Worden TC2000) workshop in Houston in 2012. Here is a link to it. You can also access it from the webinar list at the top of this blog.
I am riding SPY and TQQQ during this market up-trend. The daily RWB pattern is just too strong to ignore. As I told persons on Saturday, I do not argue with the market or listen to media pundits. I simply follow the general market’s trend until it ends. Check out these beautiful daily RWB patterns in the QQQ and SPY.
And the GMI signal remains Green at 6 (of 6).
Next Saturday I will be offering a workshop at the local AAII. You can access information here. It has been two years since my last appearance for AAII. This presentation will differ from my previous ones because it will also focus on investing in ETFs rather than just growth stocks. As I get closer to retirement, I have become more conservative in my trading and tend to focus on index ETFs. I hope to meet many of my readers next weekend…..
QQQ, SPY and DIA remain in daily RWB up-trends. Once an RWB pattern develops it is impossible to know how long it will last. So I pyramid up and ride it until it fades. Note how often the index closes (dotted line) above all 12 averages.
The GMI remains Green at 6 (of 6).