My indicators are all positive again. There were an amazing 398 stocks in my universe of 4,000 that hit a new high on Friday. 59% of the 4,000 stocks closed above their 10 week averages. Nevertheless, two rocket stocks I have written about weeks ago are now in downtrends, STEC and GMCR. GMCR has now closed below its 30 week average. I hold no stocks that close below this critical average. It may be wise to buy some puts on these stocks. While gold is still in an up-trend, it declined on Friday with the highest daily volume in more than a year. Gold may have completed a climax run. Be careful not to give back all of your hard earned profits. The dollar is rising and bonds were weak. Maybe higher interest rates are coming. Meanwhile, the GMI
General Market Index (GMI) table
Up-trend continues–check out the Guppy Chart of the QQQQ
I received few comments regarding my trading philosophy. Does that mean you all agree with me? Your comments really do make a difference and inspire me to continue this blog. So, please keep them coming. In a few weeks I will begin teaching two courses on TA at the University of Maryland. I expect that many of my students will be following this blog and I will probably post more content. The GMI is at
Up-trend continues; some Darvas rocket stocks; daily stochastics declining
There are a number of stocks that came up in my “Darvas Scan” that are trading near five year highs and have good technicals and fundamentals. These stocks include: NEU, PCLN, AMZN, NFLX, EGO, LZ, CML, ABV, CBD, WCRX, EW, WES, CPLA. Some of these stocks may turn out to be rockets if the market up-trend continues. Meanwhile, the GMI