This morning I spoke with my stock buddy, Judy, who is a shrewd concept trader. When I mentioned today’s post on buying TTM on a bounce, she cautioned me that the company’s story had turned terrible. She discovered that some of the economic actions of India’s government were hurting TTM’s sales of low cost autos. I therefore would not buy TTM even on a bounce.
Up-trend reaches 13th day; RWB rocket stock TTM
The QQQQ short term up-trend reached its 13th day on Wednesday. TTM is an RWB rocket stock. It has sold off from its high and may be on support. I might buy if it can get back above 31.10.
12th day of short term QQQQ up-trend
There were 792 new 52 week highs in my universe of 4,000 stocks on Tuesday, and 40 new lows. The long and short term trends remain up.