Blog Post: Day 7 of $QQQ short term down-trend; 122 US new highs and 518 lows; What a Stage 4 decline looks like; $TSLA
NEVER hold a stock in Stage 4! Anytime a stock closes below its 30 week average (red solid line) I exit.
Blog Post: Day 5 of $QQQ short term down-trend; 99 new US highs and 529 lows; Cash is a nice position, see weekly chart of $QQQ
Watched Fast Money tonight and all pundits were very bearish. They pretend they have been telling people to be bearish all year. Of course they were not. They continued to pitch stocks to buy when people should be on the sidelines. There will be plenty of time to go long once the trend really changes. Until then, enjoy life and the holidays. This is the weekly chart of QQQ, clearly in a Stage 4 down-trend. A break below the October low may create the panic selling that creates a bottom.
