The RM models found a good time to seek the safety of cash, although cash can't really be classified as a strategy...that's just a risk management/capital preservation tool.
And then there's the T3 Friday close lineup:
I've got to say that this momentum forecast is more than a little suspect in my mind given Friday's widespread selling and I intend to hold off making any adjustments in my T3 account until after Monday's close.
Selling tends to beget selling (recall the 3 day pattern) and although the equity markets are now sitting on tenuous support levels.
QQQ has really broken down in the last week and both AAPL and GOOG could each see another 100 point decline if selling takes holds. That would be reminiscent of Fall 2008....not a happy time.. when the markets cratered almost 50%.
Looking at the daily charts of this week's top 3 confirms that they look robust compared to the rest of the field. Whether or not that momentum will hold remains to be seen.
The GS2 signal to close the Long QQQ Situation trade on 10.17 was a timely call, to say the least.
