The GMI remains at 1 (of 6) and the more sensitive GMI-R is 2 (of 10). While many stocks have bounced off of extremely oversold levels, it remains to be seen if they can break through resistance. I am nibbling a little and placing close sell stops below the low of the bounce. I am watching AAPL very closely.
Being in cash while the stock market sinks is much more satisfying than being fully invested while it rises, I think.
You are “watching AAPL very closely” while it goes down and down from high $200… to do what??
The idea is to make money, not be smart. Much more satisfying is to make money by being short as the market sinks.
AAPL is a major growth stock leader. It can give me an indication of the trend in growth stocks in general. I am watching to see if it holds support and breaks through resistance. If AAPL cannot begin an up-trend, I will not go long growth stocks. If it breaks through, I will accumulate it as well as other growth stocks.