It is embarrassing to see that one of the GLB stocks I posted in my new GLB tracker table , IPGP, fell 15% the next day. This brings up a very important lesson I teach my students. Always know the expected earnings release date for all stocks held or to be purchased. In these very volatile days, I usually sell my position before earnings day. Otherwise, I am merely gambling. On the other hand, those gamblers who held LNKD or AMZN through earnings were greatly rewarded!
Tech stocks leading market down–Sell in May? New GLB tracker….
Wednesday was the 2nd day of the new $QQQ short term down-trend. The QQQ has now closed below its 10 week and 30 week averages. Maybe it is a major head and shoulders top? And here comes the dreaded Sell in May period. It is time to get defensive, at least with the tech stocks. Here is the foreboding weekly chart of the QQQ.
Check out the new GLB performance tracker to the right. It will enable me to see how well GLB stocks have performed. GLB stocks do well in an advancing market but do poorly in falling markets. Failing GLB stocks can also give advance warning of an imminent market decline.
First day of $QQQ short term down-trend
A new $QQQ short term down-trend started with Tuesday’s close. I usually do not trade much with a change in short term trend until it reaches 5 days. The prior short term up-trend lasted for 45 days. Time to be defensive with tech stocks.