Posted Friday, October 19, 2007 @ 12:01 am by Dr. Wish
GMI: 6; GMI-R: 10; new lows climbing; COMV climbs
The GMI remains at 6 and the GMI-R at 10. In spite these strong readings, it is disconcerting to me that the number of stocks in my universe of 4,000 that are hitting new lows is climbing. On Thursday, there were 157 new highs and 153 new lows. It is strange to see the steady climb in new lows. Many of these lows are regional banks that are in the midst of large declines. As Judy said to me, this may be the reason the Fed reduced rates. They may have foreseen the bank carnage. Speaking of Judy, her stock pick, COMV, that I wrote about on October 10, at 35.01, moved up again on Thursday, to 38.46.
Post Tags: Judy, Judy's Picks
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