Wishing Wealth Blog

Friday is option expiration day.   Tech stocks should rise early, in reaction to   GOOG’s good earnings.   The GMI and GMI-R remain at their maximum levels.   Below is a daily chart of ARMH, which just bounced from its 30 day average after having an oversold stochastic reading.   ARMH has been   a strong RWB stock. If I bought ARMH,   I would place a stop below the 30 day average just below the recent low, at   17.69. Click on chart to enlarge.

Meanwhile, APOL fell 23% on Thursday.   Given that it was a BWR stock, are we surprised?

There were 598 new highs in my universe of 4,000 stocks on Wednesday, the most since last April. The latest Investor’s Intelligence poll shows that only 47.2% of advisers bullish. This poll is a contrarian indicator and market tops tend to occur when 55% or more of advisers are bullish. There is a new ETF that enables one to buy stocks related to lithium, as in lithium batteries used in electric cars.   Check out this daily chart of LIT. It has been surging ahead.

All of my general market indicators remain at their maximum values.   I am enjoying this up-trend.