QQQQ bounced; GMI: +6; Some gappers; Favorite books

To my visitors: I am only one trader, not a guru, and not a financial advisor.  I am presenting my own opinions and my own experiences and people are welcome to decide for themselves what, if anything, on this site is of value to them.  Please refer to the additional comments, highlighted in red, at the end of this post.

The QQQQ successfully tested its up trend today, bouncing right at support. Gmi615 The coast looks clear to me–I added to my position of QQQQ shares today.  The GMI remains at +6; there were 277 new highs, the largest number in weeks, and only 13 new lows in my universe of 4,000 stocks.  Between 53% and 59% of stocks in the Nasdaq 100, S&P 500, and Dow 30 indexes closed higher today.  Today marks the 28th day in the QQQQ up trend (U-28).  We may be setting up for the end of month/quarter rally I have been anticipating.

Among the stocks that gapped up out of bases on high volume today are:  PGIC, SKX, ARB, FLIR, EBF, PSYS, WCI, and IIIN.  Check them out and, especially, see if news was released that could affect the continuation of the rise.  Good luck!

I added to the side bar (at the right) a list of my favorite stock trading books.  Hope you enjoy them too.

Send your feedback and questions to: silentknight@wishingwealthblog.com.

Please remember that the stock market is a risky place, especially now.  I am not providing recommendations for you to follow.  My goal is to share tools and methods that I have used over the past 40 years of trading, so that you may learn from them and adapt them to your trading style and needs.  While I do my best, I do not guarantee the accuracy of any statistics computed or any resources linked to my blog.  Please consult with your financial adviser and a mental health practitioner before you enter the stock market,  and please do not take unaffordable risks in the current market environment.  See the About section for more statements designed to protect you (and me) as you navigate this market. Past performance does not guarantee future results, but I would rather learn from a former winner than a loser.

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