2024-05-07T Armchair Investor Newsletter. The Nasdaq rose on 7 of the last 10 days, jumping higher on some days, to earn a 5.7% gain.

2024-05-07T  Armchair Investor Newsletter. The Nasdaq rose on 7 of the last 10 days, jumping higher on some days, to earn a 5.7% gain.

>>> MY CURRENT ACTION PLAN:  Wait in CASH!

After climbing higher over the last 2 ½ weeks, the Nasdaq is up 6.9% on Tuesday. It was a quiet day as you can see on the table below with the Major indexes barely moving.

The prior 3 trading days looked like a game of Leap Frog as each day (Thursday, Friday, and Monday) leaped higher!  (Note the opening gaps shown on the chartbelow.) But volume softened over Thursday, Monday and Tuesday.

HERE’S THE BIG NEWS – HOW DID THE EXCHANGE TRADED FUNDS FARE SINCE THEIR RECENT LOWS?

Look at these 2024 gains! I hope you have been in the TQQQ(triple QQQ) for much of that runup. (I’m running late today… note that the table below only goes throughl ast Friday.

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>>> MY CURRENT ACTION PLAN:  Hold the TQQQ .... BUT BE READY TO EXIT TO CASH IF THE MARKET'S INDECISION TURNS INTO A SIGNIFIACANT DROP -

>>>>>AND THAT COULD HAPPEN TODAY.

The only way we will know which way the market is moving isto watch the market….. each day.)  

The only way we will know which way the market is moving isto watch the market….. each day.)  

NOTE >>> The Accumulation/Distribution table for thecurrent market has an error which I cannot fix quickly.  Now that my access to the newsletter upload tools is set, I will update that Accumulation/Distribution table.

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Please consider reviewing this newsletter daily:  The markets can change direction and strength quickly!

NOTE THIS WARNING.  Holding onto a falling stock, (whether an ETFor the stock of a favorite company), is a quick way to lose your recent gains.If you play individual stocks and ETF’s, play carefully. Use the real returns(daily, weekly, monthly)

IT IS COMMON FOR STOCKS, ETFs, ANDFUNDS TO FALL FASTER THAN THE RISE.

Of course, I do not sell a positionthat has been rising well after one or two small down days. But if you had asignificant loss over several days, especially if there is an increase inmarket distribution days (down days on higher volume), then stepping outand waiting in cash can help you save your portfolio for future rallies and letyou sleep at night.

>>>> Stay tuned for Wednesday’s,Thursday’s and Friday’s results!

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AND NOTE THAT I REALLY APPRECIATE THE CONTRIBUTIONS MADE TO THE PREPARATION OF THIS NEWSLETTER.

One additional “Word to the Wise”…

>>>MOST MARKETS >>> FALL FASTER THAN THEY RISE. Beware of buying any new positions unless they are very healthy.

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Wishing you best returns in your portfolio!.

Charlotte Hudgin,

The ArmchairInvestor newsletter

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For active subscribers, my phone number is  (214)995-6702

May your stock portfolio grow and growand grow as this giraffe family has!

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