IBD

GMI: 6; QLD outperforms even the IBD 100; GOOG to take off?

@ 12:01 am

The GMI remains at 6.   Only 42% of the Nasdaq 100 stocks advanced on Friday, along with 41% of the S&P 500 stocks and 57% of the Dow 30 stocks.   Gmi1117_3 There were 172 new 52 week highs in my universe of 4,000 stocks.   Friday was the 65th day in the current QQQQ up-trend.   The GMI-L and GMI-S are   both at 100, indicating that long and short term indicators for four indexes are positive. Since this up-trend began on 8/16, the QQQQ has advanced 14.8% and the Ultra QQQQ ETF, QLD, has advanced 29.3%.   As I have been saying all along, by just riding the QLD, one would have beaten 90% of the Nasdaq 100 stocks and 95% of the S&P 500 stocks.   In fact, only 14 of the IBD 100 stocks from 8/14 advanced more than the QLD.   What a way to ride an up-trend by just jumping aboard the QLD! And the volatility (and risk) of the QLD is far less than that of individual stocks.

The IBD 100 stocks have been performing better of late.   Ibdperf1117The majority of the stocks in the recent IBD 100 lists have closed above their average closes of the last 30 days. With the exception of the list from 5/16, the majority of the stocks on the lists closed higher on Friday than when the list came out.   Note that the stocks on today’s list had 11 new highs on Friday and 88% of them closed above their 30 day averages.   New lists are apparently skewed towards stocks that have been rising in the past month.   It will be interesting to see how the stocks on today’s list do towards the end of the year.

By the way, GOOG had a hard time getting above $500 last week.   Is it possible that traders wanted to hold the November 500 calls below 500?(so they would expire worthless)   It will be interesting to see if GOOG takes off now that option expiration is over……

GMI: 6; GMI-S: 100; IBD 100 stocks lag

@ 6:41 am

The GMI remains at 6, and the GMI-S is at 100 for the first time since October 31.   Gmi1116_1 There were 426 new yearly highs in my universe of 4,000 stocks.   61% of the Nasdaq 100 stocks rose on Thursday, along with 71% of the S&P 500 and 73% of the Dow 30 stocks.   However, only 43% of the IBD 100 stocks from 10/16 advanced, suggesting some weakness in growth stocks.   Thursday was the 64th day (U-64) in the current QQQQ up-trend and the 14th weekly close above its 10 week average……..

GMI: 6; GMI-S: 94; IBD 100 stocks vs. the Nasdaq 100; How much better can this market get?

@ 6:02 am

The GMI is 6 with the GMI-S now at 94.   All four short term indicators are positive for each of the four indexes except for the DIA.   Gmi1115_1 There were 497 new highs in my universe of 4,000 stocks on Wednesday, the largest number since   April 19.   57-64% of the stocks in the Nasdaq 100, S&P 500 and Dow 30 indexes advanced.   63% of stocks in my universe are now in a bullish trend, the highest percentage since I began tracking this indicator on June 9.   Wednesday was the 63rd day in this QQQQ up-trend.

The IBD 100 stocks are performing at about the level of the Nasdaq 100 stocks.   Ibdperf1115_1 65-74% of the stocks on four recent IBD 100 lists advanced on Wednesday, compared with 64% of the Nasdaq 100 stocks.   A greater percentage of the stocks on the IBD 100 lists from 10/2 (20) and 10/16 (23) hit new highs than did the Nasdaq 100 stocks (14).   For the first time, the majority of stocks in three of the lists closed higher than they did on the day the list was first published and the majority of the stocks on all four IBD 100 lists closed above their average price for the past 30 days.

During the market top in 2000, I sold out some stocks when I   had the feeling that making money was too easy.   The way my account has been growing recently, I am starting to get the same feeling.   How much better can this market get?