8th day of $QQQ short term up-trend


IBD still sees the market in a correction.   Meanwhile, since 4/22 when the GMI flashed a buy signal, the QQQ has advanced +1.9%, SPY +.9% and DIA +.23%.   AAPL, however, is up +14.2%, and TQQQ is up +5.3%. If I has just followed the GMI signal and bought TQQQ I would have had a nice gain. Unfortunately, I waited   until my QQQ short term indicator turned up 8 days ago to start buying TQQQ.   The key is to ignore the media and the fairytale scenarios posited and to just let the market tell me its intentions. Pleasant Memorial Day weekend to all!

2 thoughts on “8th day of $QQQ short term up-trend”

  1. Dr.Wish, I really enjoy your blog. Not just for your market insight, but to read about the psychological issues you (and all!) traders deal with. Maybe Michael Covel is right — once we find a system with ‘an edge’ we should just computer-program it and check our monthly statements afterwards. Thanks Again.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.