GMI: 4; GMI-R: 8; 8th day of QQQQ short term up-trend; Nine IBD100 stocks at new highs

The GMI remains at 4 (of 6) and the GMI-R at 8 (of 10).  The QQQQ short term up-trend is in its 8th day.  The QQQQ has now closed above its 10 week average for 2 weeks.  I have found that buying the type of strong growth stocks that I like is most often profitable when the QQQQ stays above its 10 week average.  I am accumulating QLD and writing high premium April covered calls on strong IBD 100 stocks.  Over the past 40 years I have learned that the pundits label a market as bull or bear about six months after the turn.  I am therefore not surprised to be somewhat alone in pursuing the current up-trend.  No one can accurately predict how long this up-trend will last.  Nevertheless, it is important to jump on board until it shows signs of ending…

Meanwhile most of the stocks I have written about and own continue to be strong, including CPST, FDG and ITRI.   RICK is growing backwards. Nine of the stocks on the IBD 100 lists I have tracked over the past year hit new highs on Thursday:  NEU, IIVI, POT, TNE, GGB, WFT, X, RRC, CCH.  These stocks have come through a tough market to go to new highs.  These stocks may include some of the new market leaders if this up-trend continues.

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