What are the possibilities of striking a great stock pick? Much easier than getting a hole-in-one in golf. Maybe even a birdie.
What seems to work best is the stochastic momentum indicator (SMI). SMI cross-overs are excellent. Mainly when SMI values occur above 40 and below -40. So starting today I will follow this simple 40/-10 rule?
Also, avoid holding Inverse Leveraged ETFs. Holding for more than one day has proved to be a poor decision. And how about the positive leveraged ETFs like TQQQ, which has done a lot better than QQQ. The only time they are poor performers is during down markets. And down markets don't appear too often.
That said, everyone is concerned that the market is overbought. - me too. So be ready for a down market. And be prepared to jump right back in.