2024-04-30T Armchair Investor Newsletter. Market UP 5 out of last 7 days! But on Tuesday the TQQQ lost 5.7%. Yikes!

2024-04-30T Armchair Investor Newsletter. Market UP 5 out of last 7 days!  But on Tuesday the TQQQ lost 5.7%. Yikes!

Last week, the TQQQ ended with 4 out of 5 trading days rising for a total increase of 11.7%. That was a goooood week and it held on Monday. But the Nasdaq dropped hard on Tuesday losing 2% on higher volume for a MAJOR DISTRIBUTION DAY. And that triple we have been enjoying? The TQQQ lost 5.7%

By Tueday, the market momentum had reversed downward.

I will probably sell the TQQQ at the open on Wednesday unless it has a strong rise.

CONCLUSION: The TQQQ’s 5.7% lost Tuesday was a significant disappointment!.  The good news is, although the TQQQ’s volume on Tuesday was higher than Monday,  the volume was 20% below the average volume --- which could be indicating the TQQQ is holding.  But if Wednesday drops significantly, I will probably sell the TQQQ and wait in cash. Stay tuned.

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‍NOTE:  I am NEVER shy about selling a stock to pocket a profit if it is showing significant weakness.  If the TQQQ has another big drop on Wednesday, I will probably just sell it and wait in CASH until the market settles down.

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Notice in the ACCUMULATION/DISTRIBUTION table below that the sum of the A and B rated stocks has recovered from jut 36% 2 weeks ago to 56% today!

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The major indexes had major and minor distribution (selling) days,

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SAdly, after finghting with the newest vesion of Webflow for hours, I still cannot get the 20-day table to show up on this document.

If any of you readers have some experience with Webflow and would be willing to work with me for a few minutes in the near future, I would be very greatful!

Thank you!!!!!

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Wich you, "Many happy returns,"

Charlotte Hudgin

(214) 995-6702

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