Posted Friday, September 19, 2008 @ 12:01 am by Dr. Wish
GMI: 1; GMI-R: 1; 13th day of QQQQ down-trend; IBD100 new highs
The GMI and GMI-R rose to one each. This is because there were more than 100 new highs (136) in my universe of 4,000 stocks on Thursday. Almost all were banks. However, some stocks on the IBD100 lists the past year that hit a new high on Thursday are: SF, CNQR, BKE, KNDL, SRCL, BCPC, WST, ASEI, WBSN. This may be where to find the new leaders if a new up-trend materializes. There were also 803 new lows on Thursday. The market remains very volatile, given the impending government interventions. Still, the trend is down. I remain mainly in cash.
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