The QQQQ completed the 37th day of its up-trend on Friday. However, there were only 16 new highs and 5 new lows in my universe of 4,000 stocks on Friday. Five of the 16 were on my IBD100 lists: VNUS, GMCR, HANS, LINC and INT. All of these 5 but VNUS were also on the IBD New America page at some time this year. I keep a watchlist of New America stocks to look for possible winners. New America stocks are companies that IBD staff think have innovative products and exciting businesses.
Both Nicolas Darvas and IBD’s William O’Neil have written that winning growth stocks tend to have great stories behind them. Most of the New America stocks eventually make it onto the IBD100 stocks lists. So it is worth watching these stocks. INT was on the New America list last February around $31 and closed on Friday at $41.90. And HANS was written about last January around $34 and closed Friday at $42.55. So, stocks on the New America list often take off sometime after their story is published in IBD. One recent addition to the New America list that looks promising technically to me if it can break $18.60, is ASIA.