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The GMI and GMI-R remain at maximum levels.   This short term up-trend   completed its 48th day on Thursday. Upcoming   events that could impact the markets are options expiration next Friday and end of quarter mutual fund buying at the end of December. My accounts remain invested on the long side. To my university students–make sure you have suitable stops in to protect your recent profits.

TRW is another RWB rocket stock at an all-time high, as the weekly GMMA chart below shows (click on chart to enlarge). The auto parts sector (see DORM, TEN, MGA, ALV) has been on fire, with people likely to hang on to their cars longer during the weak economy.

With the rise in the price of commodities, and especially oil, a lot of oil and gas related stocks hit new highs on Wednesday.   Twenty of the 173 stocks in my universe of 4,000 stocks that hit a new high on Wednesday were in the oil and gas industry. Of these stocks, 5   were also on my cumulative IBD100 or New America watch lists : SPN, BGH, SXL, EPB and INT.   All of these stocks have the important RWB pattern typical of launched rockets. A GMMA weekly chart of BGH appears below as an example. All of the short moving averages (red lines) are well above the rising long term averages (blue), with a white space separating them.

T2108 declines to 75%.   Holding positions as stocks weaken a little.   Longer term trend remains up.