2nd day of QQQ short term up-trend; GMI = 5


The market continued to gain strength on Wednesday.   The GMI is at 5 for the first time since October 17.   Another strong day on Thursday could trigger a GMI buy signal.   IBD still sees the market in an up-trend.   It has taken over 40 years of trading to realize I must trust the indicators and not my emotions.   It is scary to buy into a new up-trend because, by definition, it often occurs after a down-trend.   We all tend to drive with our hands on the rear view mirror.   The past colors our perceptions.   So I grit my teeth and go long, but gradually, and in stages.   If this new up-trend lasts for five days, I will pyramid up.   Too many times after a long up-trend, I find that I would have done great had I just begun buying index ETF’s early in the up-trend.   I am doing so now, but will exit quickly if the new up-trend fails.

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