GMI and GMI-R are now both 1. Wednesday was the 9th day of the current QQQQ short term down-trend. 30 week average is starting to curve down–this typically happens at the beginning of a major down-trend. The Worden T2108, at 42%, is far from oversold territory where bottoms typically occur. We must be very careful. and on the defensive.
Month: August 2010
Check out my second Worden webinar; Short and in cash
I presented a webinar along with Julia Ormond Tuesday evening. If you missed it, you can access the archive at worden.com starting Wednesday. I talked about my Submarine Scan and sent people the TC2007 PCF for it. Meanwhile, the GMI and GMI-R are back to zero. I hold only short positions and my account rose on Tuesday. This is the time to be short or safely on the sideline as we enter the typically weak month of September.
Worden Webinar tonight; QQQQ short term down-trend completes day 7
The QQQQ short term down-trend has now reached seven days. With the GMI at one, I am mainly in cash with a few short positions. I also own some TYP, that is designed to go up about 3X as much as tech stocks decline. The longer term averages for the QQQQ remain flat. The time to buy stocks is when the indexes and their longer term averages are rising. See you at my free Worden webinar Tuesday night. You can register at Worden.com.