For weeks I have been writing about the strength in Facebook (FB) stock, purely based on the technicals. And now today they announce it will be added to the Nasdaq 100 (QQQ) index this month. Our technical analysis had detected the silent accumulation of the insiders and allowed me to jump on board with them! I am holding FB long term.
6th day of QQQ short term up-trend; cautiously long
The GMI is back to 5; there were only 77 new highs Tuesday. With the market skittish about the budget talks, I am proceeding very cautiously. There is no reason to take large risks given the growing market volatility.
5th day of QQQ short term up-trend;
New QQQ short term up-trend reaches critical 5th day. In the past, this has signaled a longer up-trend to come. I am slowly adding to TQQQ.