Another down day in the QQQ on Thursday could trigger a new QQQ short term down-trend. This is a good time for me to be mainly in cash and on the sidelines. In down markets it is much easier to see the winners. Only 9 stocks with good recent earnings came up in my new high scan: NFLX, LL, MANH, JAZZ, GMCR, ATRO, LGF, PFPT, DWA. It is not a good idea to buy new highs now, however. Few stocks in this market can make a series of new highs.
Month: August 2013
QQQ short term up-trend still intact–barely
QQQ is sitting on support. Mr. Market has not made up his mind about the short term trend. There were 186 new lows and 84 new highs on Tuesday.
T2108 falls to 32%
The QQQ short term up-trend will end with a flat or down day on Tuesday. This will likely cause the GMI to flash a Sell signal. Stay tuned. I am mainly in cash or holding SQQQ in my trading accounts. My conservative university pension remains invested 100% in mutual funds.