GMI: 6; IBD 100 stronger; ProShares rule

@ 12:20 am

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.

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

GMI: 6; GMI-S: 88; QLD, IAI, RIMM, GOOG

@ 12:01 am

The GMI remains at 6 and the GMI-S rose to 88, showing that almost all of my short term indicators for four indexes are now positive.  Gmi1004_2An extraordinary 96% of the Nasdaq 100 stocks rose on Wednesday, compared with 89% of the S&P500 stocks and 87% of the Dow 30.  87% of the IBD100 stocks from Monday also rose, and 14 hit new highs: BAMM,TWGP,NITE,WRLD,DRIV,AEOS,GYMB,CHL,SEIC,CNS,

ICLR,BEBE,PHLY,and MS).  Seven Nasdaq 100 stocks hit new highs: RIMM, INTU, CSCO, FISV, CDWC, AKAM, and CMCSA.  I am riding high with the QLD, a ProShares  ETF that moves twice as much as the QQQQ, which it mimics.  I am a also holding IAI, an ETF of U.S. brokerage stocks, a group that typically rises in bull markets when trading volume expands.  Why not own a piece of the casinos.  Other stocks that came alive today include RIMM, and finally GOOG, both of which I own.  Wednesday was the 33rd day of the current QQQQ up-trend.  I trade so much better when I follow the market and ignore the media pundits.

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