Wishing Wealth Blog

IBD says Thursday was a follow-through day and the market is back in an up-trend. T2108 is at 55%, in neutral territory. What a hot market!   TQQQ rose 6.23% on Thursday. Since the recent bottom on June 24, TQQQ has advanced +21%. We should enjoy this rise while we can.

One word of caution, 69% of the Nasdaq 100 stocks had a 10.4 daily stochastic value greater than 80, representing an over-bought condition. There will likely be a decline after earnings season later this summer. I have protected some of my gains with   put options. See my post from 2009 on how to use put options for insurance.

Look at that ONVO go!!   It’s up 39% this week. On Thursday, ONVO starts trading on the NYSE MKT. If it ever breaks its green line top……

So many stocks moved up on   Tuesday that it makes me a little concerned.   When things get this good, it can often be a short term top.   We have to watch the market indexes very carefully.

ONVO, one of the stocks Judy likes, rose 26% on Tuesday, as it announced it will soon be listed on the NYSE. I first wrote about ONVO as a Judy’s pick last January. Check out Tuesday’s surge on huge trading volume. Click on chart to enlarge. ONVO is the pioneering company in the use of 3D printing   with human cells.