I will make the link to my MoneyShow presentation available when I receive it. So many semiconductors are reaching ATHs. Check out these daily, weekly and and monthly charts of POET. It must not close below green line @11.00.
Blog Post: Day 9 of $QQQ short term up-trend; See you at the virtual MoneyShow tomorrow; So many GLBs are profitable. Look at AMD, DELL, CLS, MRVL that I wrote about, and see their daily charts. Tomorrow, I will explain how I found them.
I hope you will come to my first presentation at the MoneyShow tomorrow at 1:40 PM. Please invite all people you know who may benefit. I will talk for 30 minutes about GLBs and my upcoming course with Richard Moglen of TraderLion. You will be able to reserve a seat for yourself for the future course, with no obligation. So many people around the world have asked me to be able to take my class and here is your chance…..
I am amazed at how many GLBs are occurring and how often they are successful. Here are the four I recently wrote about. Look how they are moving. The nice thing about my GLB strategy is that there is a defined entry and exit. If a stock closes back below its green line I will sell immediately. If it closes back above it I might buy it back. Arrows in these charts show the GLB and the high volume at the breakout. Unusually high volume is a good sign that the breakout may succeed. I want to stress that GLBs work best when the GMI is GREEN. In other words, in an up-trending market with many stocks reaching new highs. If you won’t buy a stock at an ATH, then you do not want to ride a rocket to the moon!
Blog Post: Day Day 6 of $QQQ short term up-trend; See you at the MoneyShow virtual event on Wednesday? GMI remains GREEN; see 4 stocks with a GLB last week: AMD,DELL,MRVL,CLS.
I will present on Wednesday for the first time at the MoneyShow virtual event. It is free to register here and you will receive a recording if you miss the live event. Just prior to my presentation, Les masonson will present about his new book using a TQQQ trading strategy similar to the one I have posted about. This book taught me a lot about the QQQ ETF.
I know the market is volatile, as it reacts to every new twist and turn in the Iraq war. Still, with the GMI= GREEN, I am tiptoeing into the strongest stocks. As I will describe in Wednesday’s talk, I am focusing on the few stocks each day that trade at an ATH (all-time high). The GMI is weighted toward those stocks. On Friday, 152/6407 US stocks reached an ATH. That is 2.3%! To me, that indicates these stocks are showing extremely high relative strength. These stocks beat 98% of all US stocks. I focus on the minority of these stocks that had a GLB Friday or last week.
I found that 32 of the 152 stocks were banks, followed by 20 that were in the semiconductor sector. I found that AMD had a GLB last week. See its weekly chart. A close below the green line @267.08 would constitute a failed GLB and require me to exit if I had a position. Other stocks with a high volume GLB last week include: DELL, MRVL, CLS, see their charts below.
The GMI=6 and GREEN.
