GMI: 6; GMI-S: 100; All systems go

The market has come alive with IBD 100 type growth stocks leading the way.  There were 212 new highs in my universe of 4,000 stocks and there were 100 successful 10 day new highs (stocks that hit a new high 10 days ago and closed on Wednesday higher than they closed 10 days ago).  Gmi0913 This means that buying new highs has become profitable again.  The GMI-S is now 100, signifying that all short term indicators for four key indexes are positive.  While about 60% of most stocks advanced on Wednesday, over 80% of the IBD 100 stocks from 5/15 and 8/14 rose.  Growth stocks are gaining strength. Wednesday was the 18th day of the current QQQQ up-trend.  I am buying QLD and AAPL and IAI.  IBD 100 stocks from 8/14 that hit a new high on Wednesday include:  PRXL,IMKTA,WCG,NITE,VIP,CTSH,PNFP,SAIA,DRIV,BRLI.  Stocks that hit a new high early in a rise often become the leaders of the next bull move.

Please send your comments to:

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.