The GMI is at a maximum of 6 and the QQQQ up-trend is in its 17th day. Riding QLD and selling covered calls.
GMI: 6; Writing new covered calls
The GMI is at a maximum of 6 and the up-trend of the QQQQ is in its 16th day. I am holding QLD (the Ultra long QQQQ ETF), and a few long positions. 90% of my covered call positions were called away from me this weekend and I am back in cash. Time to write new covered calls on IBD100 stocks this week and to enjoy this up-trend. As Marin Zweig showed years ago, never fight the Fed.
GMI: 6; Options expire Friday
The GMI remains at 6, and options expire Friday. Time to enter new covered writes.