The stochastics for the QQQ is very oversold, at 7.6% and the T2108 is getting close to oversold, at 25%. I think this is not the time to begin to short.
Month: November 2011
4th day of QQQ short term down-trend; HITK keeps rising
The daily 10.4 stochastics indicator for the QQQ is now in oversold territory, at 9.91. That means that the Nasdaq 100 index is probably set to bounce within a few days. 
I wrote about HITK on September 19 when it broke out to a new all-time high. HITK still keeps rising, as shown by this weekly chart. But it is dangerous to buy a strong stock in a market down-trend.
3rd day of QQQ short term down-trend; in cash; HLF-stage 4?
The GMI went to zero for the first time since October 7. The IBD Mutual Fund index is now below its 50 day average. It is good to be on the sidelines. Keep an eye on HITK–it came up in my DARVAS scan.
Another stock that came up in my Stage 4 scan is HLF, which just closed below its 30 week average (red line). It looks like HLF may have put in a double top. Note the heavy selling (red spike) three weeks ago. Click on chart to enlarge.
