GMI: 6; IBD 100 stronger; ProShares rule

The GMI continues at the maximum level of +6. There were 337 new yearly highs in my universe of 4,000 stocks.  79% of the 151 stocks that hit a new high 10 days ago closed higher on Thursday than they did 10 days earlier.  Gmii1005 Thus, buying stocks at new highs has been profitable.  Only 65% of the Nasdaq 100 stocks rose on Thursday, along with 60% of the S&P500 stocks and only 43% of the Dow 30 stocks.  Thus, the market was much weaker on Thursday.  Thursday was the 34th day of the QQQQ up-trend and the QQQQ has closed above its 10 week average for eight weeks….

The IBD 100 stocks were stronger than the other stocks today, with 81% of the stocks on the list published last Monday advancing; 16 of them hit a new yearly high.  Over the past few weeks I have owned the QLD, which is leveraged so that it moves about twice as much as the QQQQ.  Since 8/15 when this up-trend began, the QQQQ has advanced 10.08%, while the QLD has advanced 19.92%.  It has been easy to make money just holding the QLD.  There is also an ultra ETF for the DIA.  While the DIA advanced 5.67% since 8/15, DDM advanced 11.69%.  These Ultra ProShares are the best kept secret on Wall Street.

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