Gmi:0; Gmi-r:0; Earnings Bounce; Cash Is King

Wishing Wealth | Tue, 01/15/2008 - 3:07am | Add a comment

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The GMI and GMI-R remain at zero. On Monday, there were 69 new highs and 189 new lows in my universe of 4,000 stocks. Thank you for the nice comments about yesterday&39;s post about Nicolas Darvas. It appears we are finally getting the earnings bounce. The key is whether this rally in the QQQQ can break above the last peak at 52.63. Monday&39;s rally came on relatively low volume and may turn out to be a dead cat bounce. We may have to wait for earnings season to be completed before this market reveals itself. The winning strategy for me is to react after a turn and not to anticipate one. For now, cash is king.

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› Wishing Wealth

One-Line Bio

I am a Research Psychologist with 40 years of stock market trading experience.

Biography

Over the past 40 years I have learned how to successfully trade stocks. I have managed to avoid every bear market since 94. I multiplied my IRA 13x and got out of the market in 2000. My portfolio gained 50% in 2003. I came in 5th in the Barron's Stock Challenge, professors division, in 2004.

I use technical analysis and think for myself. I have a set of rules to get me in/out of the market and stocks. I use TC2005 and IBD to track stocks.

I am writing this blog as an educational resource for friends and others. I am not a professional investment advisor and one should not follow my lead without first consulting a financial advisor. I reserve the right to change any opinions published here at anytime, without posting such information on this blog.

Interests

Technical market analysis, Livermore, Darvas, O'Neil, Weinstein, TC2005, IBD

Stock Investing > Wishing Wealth

Gmi:0; Gmi-r:0; Earnings Bounce; Cash Is King

Wishing Wealth | Tue, 01/15/2008 - 3:07am | Add a comment

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