The up-trend continues but the T2108 is at 85%, about as high as it gets. That does not mean we will get a decline, for it can stay above 80% for weeks. I went to an investor’s group meeting this weekend and was amazed to find that many sophisticated investors are resisting this rally. About two thirds expected an imminent market decline. I am incredulous that people would rather fight a trend than ride it. If one puts in stop losses to control risk, why not ride the market until it falters. No one can consistently know when a trend will end. Stop guessing! Meanwhile, the GMI
is at 4 and the GMI-R is at 8. 92% of the Nasdaq 100 stocks closed with their MACD above their signal line. We had one day last week (Thursday) when 130 stocks in my universe of 4,000 stocks hit a 52 week high. The last time we had 100 new highs was on September 19, when we had 319.
I am now 75% invested in mutual funds in my university pension plan. I am also holding some deep in the money call options in QLD in my trading IRA. There are a number of stocks at or near all-time highs that I am interested in watching, including: OTEX, GMCR, RKT, ISH, JJSF, ARO, HMSY, DORM, NTES, STEC, TTEK, DLTR, MNRO, EW, ROST, SY, ORLY, AAP, ATNI, CERN, SNX, MVL, QSII, TEVA, and RMTI. Some of these stocks will probably be real rockets as the up-trend continues.