11 Stocks at new all-time highs with good recent earnings; I remain cautious

@ 8:00 pm
GMI5/6
GMI-24/9
T210836%

I ran my TC2000 new high and good recent earnings scan and the 11 stocks below came up.   All are above their green line base tops and are therefore at all-time highs.   I sorted them by price appreciation over the past 50 days.   For example, USNA has advanced 50% over its price 50 days ago. Seven of the 11 have a blue flag, indicating they appear in one of the lists of stock I maintain that have been mentioned as promising stocks by IBD……

NewHscan06162013

The GMI remains at 5 but my short term indicators are weakening.   A close of the QQQ below 71.55 might turn my short term indicators negative. Stay tuned. I remain cautious and am hedging my long positions with some SQQQ (leveraged bearish QQQ ETF).

GMI06142013

 

IBD: Market up-trend resumes, so doe XONE

@ 7:00 am
GMI5/6
GMI-23/9
T210839%

After only two days since calling a correction, IBD now sees the market back in an up-trend.   I am not the only one who can get whip-sawed by this market. The GMI Buy Signal remains in effect since late February.   It will be important to see if the snap back rally on Thursday can continue into next week. Interestingly, XONE, came right back with the market on Thursday. I am holding this position, based on the exciting 3D printing concept. Note how XONE has found prior support at its 30 day average (red line). The ideal buy point for me would be at that average, but who knows if it will bounce there again? It all depends on the strength of the market.

XONE06122013

GMI falls to 3, IBD sees correction, getting cautious

@ 7:10 am
GMI3/6
GMI-22/9
T210832%

I had not noticed that IBD changed its outlook to “Market in Correction” on Tuesday.   The GMI is now at 3.     Remember, trend followers can only identify a top after it has occurred.   One promising indicator is that the put/call ratio was 1.16 on Wednesday, and the market tends to bounce when the ratio is that bearish. The market rarely goes in the direction   the crowd predicts, and the option crowd is clearly getting bearish, by trading more puts than calls. For now, it is best for me to raise cash and   stops.   The T2108, at 32%, is low, but not in likely bottom territory yet. The longer term   trend remains clearly up, however.