Month: June 2012

I am slowly adding to my position in QLD, the ultra long ETF for QQQ.   The fact that the market held up on Tuesday in the face of all of the FED talk is a good sign.   Mutual fund window dressing time is upon us. I am 100% long in mutual funds in my university pension and am adding to my long positions. The following stocks came up in my daily new high with good fundamentals scan: TCBI,JACK,SUSS,ALGT,PETM,HD,ULTA,SNA,ALXN,QCOR,PRGO,DG.   Many of these have been hitting a series of new highs.   Check them out.

For the first time since early May, the GMI has flashed a buy signal.   While there are no guarantees that this buy signal will turn out to be significant, I have found that since 2006, when the GMI is greater than 3 for two consecutive days, it often gives a useful signal to go   long.   I have bought some QLD and have a number of long positions.   The QQQ short term up-trend has now lasted two days.   If it can hold on for five days I will be more confident of the new trend.   However, I am ready to act quickly if the new up-trend should fail.   I am now back to 100% invested in mutual funds in my university pension.

LL looks like another stock getting ready to break to an all-time high from a multi-month base.   Click on chart to enlarge. If LL closes above 33.41 on above average volume, it may be the beginning of a significant break-out.

I am starting to take on long positions.   However, I am most sure of a change in trend after it has persisted for five days. So I wade back into the market slowly and in stages. 150 stocks hit a new high on Monday, the most since May 3rd. 14 of them had good fundamentals and technicals:   UNP, PRGO, ASPS, PETM, AMT, ROST, JBHT, DG, QCOR, CYBX, TJX, HSNI, ZUMZ, BGS.   This monthly chart of BGS shows that it is breaking from a multi-month base. Click on chart to enlarge.

As is UNP:

And CYBX: