Month: December 2012

The GMI rose to 3 and averted a Sell signal. Meanwhile the QQQ short term up-trend extended itself to its 15th day.   It looks like the QQQ successfully tested support on Monday.   I am adding again to my position in TQQQ, the leveraged 3X bullish QQQ ETF. Because I trade in my IRA, I can go in and out of securities without worrying about taxes and wash sales rules.   It is the best way to trade.   So I am cautiously bullish and long.

I recently conducted a webinar for the Houston TeleChart (TC2000) Users Group. The Worden staff were nice enough to moderate the webinar and tape it for free public distribution.   If you would like to view it, please click on this link and let me know how you like it. It lasts over 2 hours and provides a good overview of my current trading strategy.

The GMI has declined to 2 and could signal a Sell if it remains below 3 on Monday. I am ready to lighten up my position in TQQQ.   In contrast to the QQQ, the SPY and DIA remain stronger.   AAPL may be   major reason why the QQQ has weakened, but it is noteworthy that the IBD mutual fund index is now below it 50 day average.   This is a component monitored in the GMI. It means that the growth mutual funds tracked by the IBD index are not doing well. If they cannot do well, neither can I.

(Mongoose, Gilead, Bruno,   I will miss your astute comments and hope you are reading my blog from heaven.)

GMI and GMI-2 continue to weaken but the short term trend remains up.