Blog Post: Day 2 of the new $QQQ short term down-trend; it could end on Tuesday as we enter 4th quarter earnings release period; many blue dot signals, see chart of $AMD

@ 9:53 pm
GMI3/6
GMI-25/9
T210870%

I wrote yesterday that 40% of new QQQ short term down-trends end in less than 5 days. I subsequently tweeted on Monday that it looked to me like the current down-trend might end on Tuesday. The market often declines before rising as earnings are released. I sold my small position in SQQQ and bought a little TQQQ. Almost all (91%) of Nasdaq 100 stocks rose on Monday and many tech stocks came to life. My scan for stocks having a blue dot (daily 10.4 oversold stochastic climbing back above 20) identified 79 stocks from my watchlist of stocks recently on IBD/MS lists. Included were well known stocks: CROX, ARM, TWLO, ROKU, DECK, DDOG, ADSK, COST.

Here is an example of a stock with a blue dot on Monday. If I buy one, I place my stop below the low of the bounce. Note the prior blue dot on October 31. Black dots are another oversold bounce signal I follow. To learn how to place dots on a TC2000 chart, see this video published by my late co-instructor, David McCandlish. Note that my parameters for the dots have been slightly modified since this video.

 

Blog Post: Day 1 of new $QQQ short term down-trend; But 10 growth stocks did reach an ATH, see list; Of note, $JPM reached an ATH last week but closed just below its green line peak of $172.96

@ 6:36 pm
GMI3/6
GMI-24/9
T210866%

Stocks on my recent IBD/MS watchlists, sorted by last column, close /close 250 days ago. KGS was a recent IPO in 6/23.

The GMI, at 3,  still signifies a longer term up-trend. However, within this up-trend, QQQ has begun a short term down-trend. About 40% of these short term down-trends end within 5 days. If QQQ’s short term down-trend persists I may gradually accumulate some SQQQ.

Blog Post: $QQQ short term up-trend could end Friday; Meanwhile, $QS rockets higher on battery test results. I don’t mean to plug it but the results are electrifying. See daily chart and how I found out about it.

@ 5:54 pm
GMI4/6
GMI-24/9
T210868%

More than a year ago, my stock buddy, Judy, told me about QS. Judy had researched the company and was excited about the solid-state battery they were developing. This morning she called me to say that QS was rocketing higher on news with enormous trading volume and that I should buy some. She also noted that QS had a high short interest ratio signifying that many speculators will need to rush to buy shares to cover their short positions. So I bought a little at $8.02. QS subsequently ran up today to $10.03. I am holding the shares long term because, according to the news, the company’s tests of their battery have exceeded expectations and it may eventually become a major breakthrough product for EVs. Apparently Volkswagen agrees  since it has a position in QS. Way to go Judy! (The blue and black dots on the chart are my oversold bounce indicators and the “N” means I wrote a note after the purchase.) As with all new products there is risk from other competitors and it will likely take a while for the battery to be ready for mass production.