Wishing Wealth Blog

The GMI remains at 4 (of 6) and the GMI-R rose one, to 8 (of 10). Friday was the 24th day of the current QQQQ short term up-trend.   The Worden  T2108 Indicator is now at  74%, so the market pendulum is in high territory but can remain here for months.  The general market trend is up, with the dollar gaining strength and gold weakening.  I just found a new ETF, UUP,  that one can use to go long the dollar.
I already own DZZ, the ultra short ETF for gold.  All of my short term indicators for four key index ETF’s are now positive.  Stocks I own or continue to watch include:  URBN, ITRI, CPST, AAPL, RIMM and PRGO.

The GMI remains at 4 (of 6) and the GMI-R  at 7 (of 10).  There were 51 new highs and 84 new lows in my universe of 4,000 stocks on Thursday.  My GMI and GMI-R will rise when there are at least 100 new highs and more new highs than lows in a day.  But the QQQQ short term up-trend remains intact, having completed its 23rd day.  I am confident enough of the short term trend to be buying stocks and accumulating QLD in my IRA.  Note, however, that I am careful to stress that the short term trend is up. My Weekly QQQQ Index remains negative, indicating that the longer term trend remains down.  So, this is a trade-able rally in an overall down-trend.  If the Weekly  QQQQ  Index turns positive, the GMI will turn 6 and I will move my university pension funds from a money market fund to a growth mutual fund.  I trade my university pension account much less often because there are limits to the number of trades I can make each year.  I therefore wait for the longer term up-trend to assert itself before I will transfer  from cash.  I have no such restrictions in my IRA, where I can move in and out of stocks quickly if my short term indicators should reverse. Right now I am comfortable riding QLD and a few stocks, some of which I have written calls on. I also own DZZ, the new ultra short ETF on gold.