The GMI and GMI-R are back to their maximum readings. There were 149 new highs and 47 new lows in my universe of 4,000 stocks on Wednesday. CPST continues to climb on high volume. I am sitting back and riding QLD, as well as a number of growth stocks. I also am ultra short gold with DZZ.
Dr. Wish
GMI: 5; GMI-R: 8; CPST, Judy’s pick, breaks out again
The GMI rose one, to 5 (of 6) and the GMI-R to 8 (of 10). There were 83 new highs and 47 new lows in my universe of 4,000 stocks on Monday. Monday was the 35th day in the current QQQQ up-trend. QLD is up over 18% since the beginning of the QQQQ up-trend. It is nice to just ride with the market’s up-trend. CPST, Judy’s pick, is up more than 50% since I first wrote about it on March 27. The stock broke out of a consolidation on Monday on huge volume. I continue to hold a position in this stock.
GMI: 4; GMI-R: 7; 11 IBD100 new highs
The GMI remains at 4 (of 6) and the GMI-R is at 7 (of 10). There were 89 new highs and 100 new lows in my universe of 4,000 stocks on Friday. Friday was the 34th day of the current QQQQ up-trend. Eleven of the IBD100 stocks on the list published on 4/12/2008 hit a new high on Friday: NE,PDE,SID,ARD,TTES,SII,PCLN,SWN,GGB,PVA and FTI. While the market technicals weakened last week, the QQQQ up-trend remains intact, for now. And options expire on Friday….