To my visitors: I am only one trader, not a guru, and not a financial advisor. I am presenting my own opinions and my own experiences and people are welcome to decide for themselves what, if anything, on this site is of value to them. Please refer to the additional comments, highlighted in red, at the end of this post.
The GMI remains at +5 today. 
There were still less than 100 (68)successful 10 day new highs–each exceeding its closing price of 10 days ago when its intra-day high set a new 52 week high. There were 161 new highs in my universe of 4,000 stocks and 21 new lows. About half (51%) of the Nasdaq 100 stocks rose, 54% of the S&P 500 stocks and 43% of the Dow 30 stocks. These statistics are much better than Friday’s but far lower than those we have become accustomed to seeing during this rally. Today marked the 21st day in the QQQQ rally (U-21).
In spite of the moderate market figures, my favorite stocks did great today with many of the stocks I have been discussing hitting new highs or rising (CME, GOOG, SHLD, NDAQ, MW, CRYP, ORCT, BOOM).
My son started his summer basketball league this evening and I got home late. I am very tired. So, I guess I will sign off now. As far as I can tell, the market remains in a firm upward trend. I hope you are also profiting from this first real rally of 2005.
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Please remember that the stock market is a risky place, especially now. I am not providing recommendations for you to follow. My goal is to share tools and methods that I have used over the past 40 years of trading, so that you may learn from them and adapt them to your trading style and needs. While I do my best, I do not guarantee the accuracy of any statistics computed or any resources linked to my blog. Please consult with your financial adviser and a mental health practitioner before you enter the stock market, and please do not take unaffordable risks in the current market environment. See the About section for more statements designed to protect you (and me) as you navigate this market. Past performance does not guarantee future results, but I would rather learn from a former winner than a loser.
I had my very first stop loss order kick in. I bought a small number of SHLD shares and set a stop loss approximately 7% below my purchase price and that price was reached today. Even though I lost money I felt good about my decision to use the stop loss. The stock has traded as much as $5 below my stop price.
Personally, what I am struggling with to understand is when to buy a stock. I do not fully understand how to determine a base price. I am currently reading Chapter 12 of the O’neil book, “How to Make Money in Sotcks”, so maybe this chapter is where I start learning when to place a buy order.
Follow on comment: I read a message from Kramer to his subscribers where he is recommending people buy into SHLD in the 130 range. He is obviously very bullish on this stock. That just seems too simple to me. Kramer does not seem to bother his readers with any of the technical analysis. He has been dead on with GOOG from what I understand (so have many other people) but he has also been off the mark with Lucent.