Second day of new QQQQ short term up-trend


There were 7 new highs and 162 new lows in my universe of 4,000 stocks on Thursday.   Only two of the stocks on my IBD100 lists hit a new high on Thursday:   SXCI and HMSY.   But the QQQQ was strong, and now 67% of the Nasdaq100 stocks closed above their 30 day averages, the most since January 9th.   The GMI remains at one and the GMI-R at four.   I   do not know how long this up-trend will last but it pays to watch it closely.   I have a very small position in QLD, the Ultra long QQQQ ETF, and will add to it if the trend continues.   If the QQQQ up-trend fails, I will be stopped out with a small loss.   The key is to keep doing this until I catch a real up-trend.   I have learned from other bear market bottoms that when I give up in disgust, I   miss the real turn.

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