Dr. Wish

While the indexes are rebounding, it is noteworthy that there were twice as many stocks at new lows than new highs on Wednesday. About 86% of the Nasdaq 100 stocks rose, compared to 67% of all stocks. So the tech stocks are out-performing right now. Only one stock came up in my new high and great fundamentals scan, CMN. It is in a beautiful RWB up-trend.

The scenario I sketched on Sunday night came true with the market bouncing from oversold. Almost one half of the Nasdaq 100 stocks reached extremely oversold levels on Monday. The GMI did not flash a Sell signal. I bought a few positions that bounced up off of support on Monday and will sell if the bounces should fail. I do not know how far this bounce will go. I just place my bets and exit with a small loss if a stock fails. That is the way to prosper in the stock market–small losses and large gains.

RTN, a recent green line break-out stock, hit an all-time high on Monday.

As did TAP.

And JBT.