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Saturday, October 18, 2008

IBD 100

Well, myn alternate source came through and I have the last copy of IBD available here. Last week wasn't too bad for the IBD 100, the biggest gainer had a bigger gain than the biggest decliner's decline for the first time in quite a while. Medical stocks dominate the gainers, they seem to be the only thing working in this market. LPHI was the big gainer. This is quite a chart, with CMF and relative strength both very high. Last Friday's panic brought it right down to the 200dma, where it reversed and made a dramatic gain, then found support at the 50dma.

A similar story with THOR. Notice how it filled in the gap last Friday, almost to the penny.

RKT was the biggest decliner last week. On Friday's reversal, it closed above the 200dma, which looked like it could be support, but couldn't hold it. CMF peaked with price back in September. Relative strength has actually held up fairly well.

NETL was the second biggest decliner. In the last six months, this has hit lower lows pretty consistently. Last Friday saw it reverse, but look at the spike in relative strength. Unfortunately, it collapsed after that.

I will be doing some more scans with Zacks' scanner, I probably won't post any results until tomorrow.

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