Larry Connors Daily Battle Plan: Month-End Buying Leads to Winning Trade in the QQQ
Good Morning.
You should have locked in your gains in the QQQ on Friday’s close. This makes 12 of 13 winning trades in the Model Portfolio for 2011.
The month-end buying I mentioned last week – which has occurred historically, and specially when the market is above its 200-day moving average – played itself out again this month. The market is now overbought coming into the day and we’ll see if the rally continues another day or so. Beyond that though, I expect the market to pullback within a few days.
The above is from Larry Connors’ Daily Battle Plan. To learn more about the Daily Battle Plan – including access to Larry’s daily ETF trading signals, click here for more information.
Larry Connors is founder and CEO of TradingMarkets.com