Blog Post: Day 9 of $QQQ short term down-trend; 21 US new highs, 79 lows and 4 at ATH; I am 100% cash; My adapted GMMA daily charts tell the short term story; when the RWB pattern disappears, I exit; see example charts of $QQQ,$DIA,$SPY,$NVDA,$TSLA

GMI1/6
GMI-21/9
T210822%

My adapted daily GUPPY, GMMA charts tell me when an up-trend has ended. My former student, Richard Moglen, tells how to build them using TC2000. As long as the shorter term (red) averages are rising above the longer term (blue) averages with a white space separating them, RWB, the up-trend is intact. When the white space disappears it is time for me to raise stops and/or exit. When the pattern reverses to BWR, I am out or short, see TSLA. The dotted line is the daily close. Check out these charts. A picture is worth how many $$$$?

Screenshot
Screenshot
Screenshot
Screenshot
Screenshot

Blog Post: Day 17 of $QQQ short term up-trend; Last night I showed how to identify a GLB and my Black, Green and Blue dot setups; This chart of $VRT shows how to buy a stock after the GLB using these setups; watch for the session recording

GMI6/6
GMI-26/9
T210849%

At the IBD Meetup last night I showed how to spot a GLB and explained how to use my green/black/blue dot setups. These are oversold bounces. I meant to say if one missed buying near when the GLB occurred, they could wait to buy it later if it had a green/black or blue dot setup. The chart of VRT shows the GLB last August. Note the many subsequent setups (dots) at which  one could have purchased it.  Thank you, Judy, for leading me to this example. I am in the process of making the recording of my remarks available to all. Stay tuned.

 

Blog Post: Day 23 of $QQQ short term up-trend; 194 US new highs and 79 lows; $GNE came up on my favorite setup, see daily and monthly charts and setup videos

GMI6/6
GMI-27/9
T210868%

I have noticed that in a strong market, it is sometimes profitable to buy a stock that has reached an all-time high after a recent GLB, declined to oversold, and then turned up. I scan  for such stocks with TC2000 and found GNE today. I bought a little GNE and placed my stop below the low of the bounce. If I am wrong, I get stopped out with a small loss. If I am correct, maybe GNE will go on to new highs? It has already tripled this year’s low. Maybe it will triple again?I had noticed GNE when it came up on my GLB (green line break-out) scan on October 11 (see GLB tracker to right). It since has held its green line (at 17.80) and advanced to as much as +43%. Now that it has bounced from oversold I couldn’t resist a small purchase. GNE has an IBD/MS Composite rating= 96 and RS=98. Note the black dots designating oversold. My late co-instructor, David McCandlish, built this tutorial showing people how to add the back and green dot signals to their charts using TC2000. His youtube page shows more tutorials he built for my class.

Here is its monthly chart.