GMI: +6: Rally continues amid strong Dow stocks; Some promising new highs
It is truly amazing to see how the Dow stocks are recovering. Dow stocks showing signs of strength include: DD, AIG, WMT, JPM, MMM, HD, AA, MRK, IBM, MSFT, DIS, C, MCD, INTC, HPQ, MO, UTX, AXP. Yes, even MSFT and INTC are now above their 30 day averages! 55% of the Nasdaq 100 stocks, 60% of the S&P 500 stocks and 77% of the Dow 30 stocks advanced on Monday. 
There were 78 successful 10 day new highs, stocks that hit a new high 10 days ago and closed higher Monday than 10 days earlier. There were only 13 successful 10 day new lows. There were 165 new highs and only 49 new lows in my universe of 4,000 stocks. 20% of stocks are now within 5% of hitting a new high. Monday was the fifth day of the current QQQQ up-trend (U-5).
Among stocks hitting new highs Monday that have good recent quarterly earnings (+50% or more) and have advanced 60% or more over the past year are: IRIS, CPSI, HITK, HSVLY, CUTR, LII, DBRN, GHL, CX, GOOG, CPL, RHAT, ESRX, VTAL. Check them out.
Please send me your feedback at: ewish@comcast.net.
Comments ( 1 Comment )
Andre added these pithy words on Tue, 11-8-05 at 12:07 amHi Eric,
I ran a slightly different scan and came up with the following stocks:
CBG
CELL
CIB
CPSI
ESRX
HITK
ITG
LCAV
RTSX
VPHM
WLT
I noticed we had some stocks in common. I plan on running them through my CANSLIM checklist and invest in the ones with the highest scores.
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