Blog post: Day 16 of $QQQ short term down-trend; Scan found a stock up on highest volume in 50 days that is also near a GLB, the winner is…….

@ 5:40 pm
GMI0/6
GMI-23/9
T210829%

I created a simple scan in TC2000 looking for stocks over $15 that rose today with their highest trading volume in 50 days. Two stocks in my watchlist of 811 stocks mentioned in IBD50 or MS Growth250 lists came up. One of them, CHEF, looks worth monitoring because it is near its ATH and green line top. I placed an alert in TC2000 to text me the moment that CHEF trades at a new  ATH, $42.17. According to  MarketSmith, the last 4 quarterly earnings were  up triple digits and sales growth was up 83%-111%. Composite rating =96 and RS=97, not too shabby. A stock with great fundamentals  that is showing technical strength during a prolonged market decline could prove to be an emerging true market leader (TML) when the market turns.  Below are daily, weekly and monthly charts. My compliments to the CHEF!

 

 

 

 

Blog post: Day 15 of $QQQ short term down-trend; I will be speaking on July 16 at the 2nd TraderLion Conference, see details

@ 6:04 pm
GMI0/6
GMI-21/9
T210828%

Get details about the conference from my former extraordinary student, Richard Moglen, here.   I will be speaking at 2:40 PM EST. I will discuss among other topics, the GMI, monitoring the Worden T2108 indicator for market bottoms, green line break-outs (GLB) and the 10:30 weekly charts.  Hope to see many of you!