2023-09-27W Downtrend Day 6 – Remember: I SOLD the TQQQ at FRIDAY’S open and wait in CASH

September 27, 2023

2023-09-27W  Downtrend Day 6 – Remember: I SOLD the TQQQ at FRIDAY’S open  and wait in CASH

PLEASE NOTE: On Friday in IBD’s “Live” broadcast, Alissa Coram reminded us that, historically, September is a weak investing period.Thus, IBD’s end of day numbers (shown below) were not a surprise. Keep the gains you earned this year and consider joining me in cash…  watching from the sidelines!

It was a rather quiet day in the market. And even with a quiet day, the Nasdaq still won for the best advance (although it was a small win.)

 

So let’s look at how the 3 major indexes have done this year:

AND I hope that you have exited the Nasdaq (as well as other investments that are not growing at the moment.  

PLEASE REMEMBER: CASH IS A FINE PLACE TO PUT YOUR MONEY WHEN THE MARKET IS FALLING.

For those of you who are more aggressive in a falling market, remember the major indexes all have inverse ETFs that grow when the market is falling.

CHARLOTTE’S PROGNOSIS FOR THE NEAR FUTURE: (No guarantees!) I suspect that the inverse ETFs (that rise when their mirror is falling) are going to continue rising in the near future.  

Please examine the ACCUMULATION/DISTRIBUTION RATINGS TABLE BELOW……  

>>>> THE DOWNTURN OF THE ACCUMULATION RATINGS is a WARNING of UNDERLYING MARKET WEAKNESS!

Monday’s slight rise of the major indexes ON HIGHER VOLUME….points to a lack of interest in a rising market.

>>>>> A confirmation of the current weakness in this Uptrend showed up Monday as the A & B rated stocks dropped from 46%3 weeks ago to 29% today. (Yikes!)

I hope you followed my lead and sold your rising indexes and now wait in CASH. An aggressive believer in the continuation of this downtrend and might short some stocks.  I am happy with having sold my QQQ and waiting in cash. But if this DOWNTREND continues with strength (volume), I may short it.

Repeating my recent "Bottom line"....

 

One additional “Word to the Wise”…

>>>>>--- MOST MARKETS FALL FASTER THAN THEY RISE

Please send questions, comments, suggestions ideas and requests to:   My text message account at(214) 995-6702.

Wishing you, “Many Happy Returns.”

Charlotte  Hudgin, The Armchair Investor,                                              

www.ArmchairInvestor.com   (214)995-6702   

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