New QLD Trade

The short term model is oversold again after a pretty harsh week.

My feeling is that the uptrending environment we were in the last couple months may turn into choppy going or possibly continued hard selling for a fews weeks or months. I am going to make some judgement of which signals to act on and which to leave go. I try to do this by trading in the direction of a 50 day moving average, but some more judgement is needed around potential trend change points. The oversold reading was bad enough that I think there is a good chance of a quick bounce, so I will suggest a trade on QLD.

New Trade:

Enter QLD at the market open on Tuesday. Price is currently around 84.00.

Pete