Friday, July 17, 2015

GOOG and what it means


That's one mighty pop!

Now, with Google being a $400B market cap company, I think it would have be a big percentage of the Nasdaq index, and so it (and NFLX, who also have popped) has driven the Nasdaq to a new high.


 IWM seems to want to roll over;

 SPY seems to want to roll over at resistance; and

and $TRAN seems to want to roll over below the SMA(50) again.

So, I got rid of half my this morning. It's a sensible move, because I want more cash, I had great profits to take, today's Google move puts QQQ at an RSI of 67, and if it happens that the US continues upward unabated after today I'll be happy to be single-long, not leveraged.

The way I see it, you pull your leverage down as the market move gets stronger upwards.

So now I'll puzzle out if I want to move that cash into single-long US ETFs today, or rather wait a couple days to see if we can get a bit of a correction. QQQ has printed 6 white candles in a row, so certainly I'd expect a bit of a pullback.

Call it pennyflipping if you want, but this strategy did me quite well in January and February.

Of course if $TRAN breaks above the SMA(50), or SPY breaks through resistance, then we may continue to be entertained all summer long.

No comments:

Post a Comment