The GMI fell one, to 4 and the GMI-R to 60%. There were 101 new highs and 381 new lows in my universe of 4,000 stocks on Monday. The QQQQ continues to resist the down-trend in the non-tech markets. Silver, gold and commodities are hitting the new high list. The QQQQ is in its 47th day of its short term up-trend. You can cut the negativity espoused by CNBC pundits with a knife, and yet the markets rebounded from their lows on Monday. This market therefore looks like it wants to rally. Key growth stocks (GOOG, AAPL, CMG, RIMM, BIDU) are holding up. On the other hand, the Worden T2108 indicator is now at 36%, reflecting a lower market for NYSE stocks. Among the 101 stocks in my stock universe that hit a new high on Monday and that have recent quarterly earnings increase of 100% or more are: ENZN,NDAQ,HAE,RIG,PSEM,HL,VCP,BIDU,FLS,CELL,ATRO,
ANSS,NEM,RIMM,ITC FMCN. If the market does rally, these stocks may be among the new leaders.
