What an incredible day Thursday! The GMI remains at the maximum +6, and many of my indicators are at new peaks. There were 353 new yearly highs in my universe of 4,000 stocks. 85% of the 68 stocks that hit a new high ten days ago closed higher on Thursday than they closed ten days earlier. 63% of stocks are in a short term up-trend and 71% closed above their 10 week averages. 95% of the Nasdaq 100 stocks advanced, along with 89% of the S&P 500 stocks and 87% of the Dow 30 stocks. 78% of the stocks that doubled in the past year closed above their 30 day averages and 24% hit a new high today. Four times as many stocks are within 5% of their yearly highs than their yearly lows (29% vs. 7%). Thursday was the 22nd day of the QQQQ up-trend (U-22). Clearly, this is a market in a strong up-trend.
The following stocks that hit a new high Thursday, had earnings increases last quarter of at least 100% and have at least doubled in the past year: TIE, MIND, PLLL, LMS, CUTR, TRID, CRM, AAPL, HANS, DRQ, VPI, DBRN, HOLX, RES and BBBB. I have listed many of these leading stocks in my prior posts and I own a couple of them. This list of winners is worthy of further consideration and research.
Since November 1, the SPY has increased 5.15%. According to an industry scan I ran on TC2005, during this period the top performing industries have been: Internet service providers (+21.8%), Semiconductor-integrated circuits (+19.7%), Silver (+19.6%), Computer based systems (+18.2%), Copper (17.9%) Semiconductor equipment (+17.7%) and Aluminum (+17.6%).
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