13th day of QQQ short term down-trend; in cash/hedged


We have one more week until options expiration.   I remain in cash with a few long positions protected by put options.   Most of my stock will be assigned and I will be back to 100% cash.   This is the time to sit back and enjoy the summer heat.   There is plenty of time to jump back into the market after a real up-trend begins.

1 thought on “13th day of QQQ short term down-trend; in cash/hedged”

  1. Dr Wish, Reference comment 5-9-11. From your posts to date, I think you are still in your university pension mutual funds waiting for Stan Weinstein’s Stage 4 breakdown. I’m in mutual funds which are difficult to buy and sell frequently without penalties. I’m looking to sell when the market is decidedly going down to protect assets. Per your suggestion 5-9-11 I have purchased and am reading Stan Weinstein’s book. I’m having difficulties understanding his chart 8-1 on page 271. The top of the 30 Week SMA could be flat for months, yet he shows a sell when the DIA first broke through its 39 Week SMA. Friday, the QQQ, SPY, DIA and Nasdaq have all broken below the 30 Week SMA, but none of their 30 Week Moving Averages have turned down. How much should they turn down before it’s time to sell? Looking at Fridays Weekly StockChats.com QQQ, if 59 is a resistance level and 54.5 is a support level we may have entered Stage 3. Does any of this make sense? Thanks Tom

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