General Market Index (GMI) table

Insider trading in AAPL? AAPL back in Stage 2 Up-trend; TQQQ up almost 19% since last GMI buy signal

@ 1:40 pm
GMI6/6
GMI-26/9
T210862%

I was planning to write that, for the first time since last October, AAPL appear to be back in a Stage 2 up-trend.   Last week AAPL closed above its critical 30 week average.   A fully developed Stage 2 requires a rising 30 week average (red line in chart).   AAPL’s is still declining, but it is time to watch for   it to curve up.   If one exited AAPL last October when the stock closed below its 30 week average, one would have gotten out at around $600.   I would begin buying AAPL as long as it closes above its 30 week average (red line).   Most of the hype about AAPL is over and probably so is most of the selling.   It is appropriate that AAPL would start rising just as everyone has given up on it. This weekly chart of AAPL shows where AAPL failed a green line break-out last October and then found support near its prior green line top. AAPL will probably find resistance back around its last green line top near $650.

AAPLweekly08042013

Until I saw this weekend’s announcement about the Obama administration’s decision to protect AAPL’s right to sell   products banned by the ITC decision, the above is all I would have written about AAPL.   However, I examined the one minute chart of AAPL from Friday and found an enormous amount of buying occurring in the last two minutes of the day.   The SEC might want to examine whether someone who learned of   the imminent decision used   inside information   to buy AAPL late Friday. Or maybe it was just someone’s lucky trade!? Anyone who bought late Friday may profit handsomely   if AAPL pops on Monday morning. Check out the minute by minute chart below and come to your own conclusions. (Click on chart to enlarge.) If you buy on Monday these hypothetical insiders may be selling to you!

OBAMAAAPL

The GMI remains at the maximum 6 (of 6).   Oh that I had the discipline to stay invested in TQQQ since the last GMI Buy signal on July 5.   If I had bought TQQQ at the close on July 5, my account would be up 18.9%, compared to the QQQ, +6% and the SPY, +4.9%.   Maybe one of my readers did this well? Please let me know.

GMI08022013

 

Below is the daily chart of TQQQ, with a green arrow showing the GMI Buy signal.

GMIbuyTQQQ

 

 

I am back; market completed 10th day of QQQ short term up-trend; ONVO rockets higher; CBST: cup and handle break-out

@ 9:00 pm
GMI6/6
GMI-26/9
T210864%

On my trip to Amsterdam, I monitored the market when I coud. There were no major changes in my indicators. Some of my put options resulted in my positions (TSLA, IRBT) being sold (option assigned)   over the weekend, however.   Puts are great insurance for times when I cannot monitor my positions.   During the 8 hour plane trip back I studied Mark Minervini’s new book, posted to the lower right of this page. It is the best new book on buying super performing growth stocks than I have seen in a long time.   Of most importance, the author has made a fortune trading. I found his insights extremely useful and harmonious with my own trading strategy.   He also likes buying stocks that are trading at all-time highs. His analysis of the technical patterns of   growth stocks that are breaking out is superb…..

While I was away, ONVO really started to move.   I told you months ago about this bio-printing (3D) stock.   Now that this 3D printing company is listed on the NYSE MKT, it can be bought by institutions.   I told you that this “Judy’s Pick” was very high risk and like a lottery ticket.     Thus far, however, the stock has more than doubled. After last week’s action, I would expect some type of consolidation, in preparation for a possible assault on its all-time high of $10.90.   ONVO is still very much a lottery ticket, as it has yet to make a profit. However, if it can break above its green line top of 10.90, I would become very interested.   Recent IPO’s that break a green line top   often become   big winners……..

In running my new high scan, I found CBST.   It looks to me like it had a cup and handle break out to an all-time high on   Friday on above average volume.   It might be worth a close look, if it can hold above the break-out   pivot price, around $54.70. See the daily chart below (click on to enlarge). CBST may be trading higher based on its pipeline of new drugs.   Note that it is a recent green line break out stock, indicating that it is trading near its all-time high.

CBSTcup

Speaking of green line break-outs, has anyone noticed that XOM is about to break its all-time high?   (CVX is also strong.) Does anyone care that oil is surging higher? Check out this monthly chart of XOM. What will higher oil prices do to the economy, and the market?

XOMmonthlygreenline

The GMI remains on a Buy signal with all indicators positive. The QQQ and SPY just completed their second week above their critical 10 week moving averages. The Worden T2108 Indicator, at 64%, remains in neutral territory. It’s nice to be back!

GMI07192013