With the new short term up-trend now 5 days old, I am slowly wading into QLD. Other positive signs include the GMI-2 climbing to 4, and the fact that the latest Investors Intelligence poll shows more bearish advisers than bullish advisers. This pattern rarely occurs. IBD discusses the recent history of this indicator on page 1 in “The Big Picture” column. When advisers are bearish, it may indicate we are near the bottom of a decline. I am content to wade slowly into this market in my more speculative accounts. Since my indicators are most sensitive to the QQQ, I prefer to buy the QLD leveraged ETF which I described yesterday.