19th day of $QQQ short term up-trend; $CYBR may break-out, $HACK has

@ 9:55 pm
GMI5/6
GMI-25/9
T210837%

I am very interested in stocks that come public, form a base and then break to new highs. CYBR is getting close to breaking out. It is close to a green line break-out. It may even be completing a cup and handle base, as seen in this weekly chart. With so many hacking events hitting the news, it may mean good business for cyber-security firms. Judy has been talking about CYBR for some time.

CYBR05052015As an alternative to single stocks, there is a new ETF for cyber-security firms, HACK. HACK had a strong week last week.

HACK06052015

The GMI remains strong and the longer term up-trend remains intact. But note that the SPY has closed below its 10 week average. Tech stocks are outperforming. Will SPY or QQQ lead the market?

GMI06052015

 

18th day of $QQQ short term up-tend; waiting for July, $AMBA shines

@ 6:32 am
GMI4/6
GMI-24/9
T210835%

While the longer term up-trend remains intact, I have reduced my long positions in my active trading accounts. My longer term university pension accounts remain invested long in mutual funds. I am still expecting some weakness in June while we wait for the release of second quarter earnings in July.

On the other hand, IBD says the put/call ratio reached over 1 on Thursday, indicating a lot of bearish option trades and a place where the averages tend to bounce up. Maybe Thursday’s decline was over-done. AMBA sure held up, showing that people are still following good earnings news.

AMBA06042015

17th day of $QQQ short term up-trend; interest rates spike

@ 8:11 pm
GMI6/6
GMI-26/9
T210844%

I do not like the weakening in the bonds. TLT is the ETF for the 20 yr Treasury bonds. The RWB up-trend is over and the shorter averages (red) are moving below the longer term averages. As TLT declines, interest rates rise.

TLTGMMA06032015The last time we got an interest rate hike scare was 2013.

TLTGMMA2013The market did not tank, but it may this time. Since 2nd quarter earnings are now released, I suspect we will get a lull   with a weak market until July and earnings come again. I have taken a lot of money off of the table….