GMI: 6; 100% long; IBD 100 stock performance

The market held up today and the GMI remains at 6.   I am fully invested on the long side.   There were 191 new highs in my universe of 4,000 stocks on Wednesday.   Gmi1011_1 Wednesday was the 37th day in the current QQQQ up-trend.   41-50% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 stock indexes advanced.

The IBD 100 stock lists that I have been following still show underperformance.   Only 20-25% of the IBD 100 stocks rose on Wednesday, compared with 41-50% of the stocks in the major indexes. However, the IBD 100 list from 10/02 did register 14 new highs.   Ibdperf1011 Nevertheless, only 68% of the stocks from the IBD 100 list published on 10/02 closed higher Wednesday than on the day the list was published……

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