Month: June 2013

I had not noticed that IBD changed its outlook to “Market in Correction” on Tuesday.   The GMI is now at 3.     Remember, trend followers can only identify a top after it has occurred.   One promising indicator is that the put/call ratio was 1.16 on Wednesday, and the market tends to bounce when the ratio is that bearish. The market rarely goes in the direction   the crowd predicts, and the option crowd is clearly getting bearish, by trading more puts than calls. For now, it is best for me to raise cash and   stops.   The T2108, at 32%, is low, but not in likely bottom territory yet. The longer term   trend remains clearly up, however.

My stock buddy, Judy, has been talking about XONE, which she bought a while ago.   XONE was an IPO in February.   It came public at around $23.   Since then it has advanced to close at $51.91 on Tuesday.   XONE markets 3D printers to commercial customers. And 3D printing in space is about to open a new frontier.   Judy told me about 3D printers and DDD a long time ago.   I wish I had acted on it!   Better late than never….

Note XONE’s short life as a trading stock and that it managed to rise to a new high even during Tuesday’s rout! Such relative strength is very interesting….

By my count, Monday was the 34th day of the current QQQ short term up-trend. The T2108 is at 45%, in neutral territory.

MINI, a recent green line break-out stock, may be testing support at the green line. Check out its daily chart.