For the first time since December 26, the GMI is now at the maximum reading of +6 (of 6) and the GMI-R is 10 (of 10). There were 121 new highs and 54 new lows in my universe of 4,000 stocks on Tuesday. Tuesday was the 31st day since I identified the beginning of the current QQQQ up-trend. I transferred my university pension from money market funds to growth mutual funds today. I am also almost totally invested in stocks in my IRA. I continue to hold a large position in QLD, the ultra QQQ ETF that strives to double the performance of the Nasdaq 100 index. I also own growth stocks such as AAPL, RIMM, GOOG, URBN, and V. I also own some of Judy’s picks: CPST and IMAX.
Judy
GMI: 4; GMI-R: 7; 22nd day of QQQQ short term up-trend; ITRI
There were 42 new highs and 114 new lows in my universe of 4,000 stocks on Wednesday. The low number of new highs caused the GMI to decline to 4 (of 6) and the GMI-R to 7 (of 10). Still, 71% of the Nasdaq 100 stocks closed above their 30 day averages. ITRI, a Judy’s Pick, rose 5% to $105.21. I continue to accumulate QLD and to write covered calls.
GMI: 5; GMI-R: 8; 21st day of QQQQ short term up-trend
The GMI remains at 5 (of 6) but the GMI-R fell one to 8 (of 10). This is because there were more new lows than highs (131 vs. 111) in my universe of 4,000 stocks on Tuesday. Tuesday was the 21st day in the current QQQQ short term up-trend. I continue to hold QLD and to write calls on IBD 100 stocks. CPST, a Judy’s Pick, continues to out-perform the market.