New Uptrend, $AAPL, $GNC, Meetup Group

  • After today, we are officially in a Confirmed Uptrend. I’m a little surprised that today was enough to change the outlook, but I don’t make the rules. I just play by them. I will certainly head IBD’s advice though and proceed with caution. One thing I learned after December’s Follow Through Day was that I didn’t have to buy the very next stock to break out after the uptrend. It is perfectly reasonable to take my time and wait for a BIG Stock.
  • $AAPL crushed earnings and then shot way up on enormous volume. What else is new?
  • Despite my lack of dedicated interest lately, I had noticed that $GNC had come from no where and was looking very strong. It proved just that by blowing up over 12% today in big volume. This was not a base though, so not the time to jump on board.
  • I took away two things from my IBD Meetup group tonight. The first was that there are a bunch of Investing Podcasts at www.tfnn.com. Not sure how good they are, but I’ll be looking into that. Also, I convinced myself tonight that I NEED MARKETSMITH! It’s just so cool. I certainly can’t justify the $113/month right now, but I think I might have to get it sooner than I expected. It just makes everything so simple.