As you know, I rely heavily on the Worden software, TC2000, for tracking the market and computing my GMI stats. The Worden 2012 Conference Tour is beginning in January and will visit the DC area on April 13 and 14. I am pleased to present 4 lectures during the two day conference. I hope to meet many of my blog readers there. My presentations will utilize some of the material I present to my university honors class. If you can’t attend, you might want to order the conference videos from them.
The bounce back rally is continuing and the QQQ short term trend has turned up. As you know, I prefer to wait for the new trend to persist for 5 days before I trust it. The DIA and SPY are becoming somewhat overbought. The Tech stocks, as measured by the QQQ ETF, are not overbought yet. So the techs may have further to go. Nevertheless, I am writing calls on some long positions and moving up my sell stops.
MY TC2000 scan found 23 stocks with good fundamentals that hit new highs on Tuesday. They are: WPC,ALXN,BWLD,CATM,ISRG,WYN,CPRT,MMP,EAT,VZ,MGRC,PETM,FEIC,SBUX,
SMP,SE,ODFL,PM,ARG,FAST,ORLY,SCSS,GR. This is a good list of stocks to research.