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GMI: 6; IBD Meet-up not bullish; IBD 100 new highs

@ 12:01 am

The GMI remains at 6, but the QQQQ was the weakest index Wednesday.  53% of the Dow 30 stocks advanced along with 46% of the S&P 500 stocks but only 38% of the Nasdaq 100 stocks.  Gmi0927 But there were 202 new highs in my universe of 4,000 stocks and Wednesday was the 28th day of the current QQQQ up-trend.  Only 44% (4/9) of my IBD meet-up members were optimistic tonight about the next few months, suggesting to me that this market will be higher come November.  66%of the IBD 100 stocks from 5/16 and 75% of the IBD 100 list from 8/14 closed higher on Wednesday, suggesting that IBD type growth stocks were stronger on Wednesday.  Seven stocks from the list on 8/14 hit new highs:  FMD, TNL, NITE, GYMB, TWGP, GILD and CTSH.  Some of these stocks might lead a year end up-trend…

Please send your comments to:  silentknight@wishingwealthblog.com.

GMI: 6; Window dressing continues

@ 12:01 am

The GMI is at 6.  If you read my post last Monday, you know that I expected a strong week with the mutual funds buying up the strong stocks for their end of quarter portfolio reports.  Gmi0926 At the same time most of the media pundits were wringing their hands over inflation and housing woes and expecting a down week.  It pays to think for yourself and go against the crowd. 

Please send your comments to:  silentknight@wishingwealthblog.com.

GMI: 6; Window dressing has begun; October decline?

@ 12:01 am

The GMI is back to 6, and the "window dressing" I wrote about yesterday has begun.  The funds are loading up on the leaders.  Gmi0925 The GMI-S is back to 100.  84-88% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced on Monday.  My holdings in QLD and AAPL did nicely.  There were 132 new highs in my universe of 4,000 stocks.  Monday was the 26th day in the current QQQQ up-trend.  The big question is whether the scary month of October will begin on the down-side.

Please send your comments to:  silentknight@wishingwealthblog.com.