Strength in strong revenue-growth equities (typically captured in the IBD 100) and improvements in market breadth suggest continued opportunities to gain on the long side. The looming threat is resistance, which has been foreboding. One refreshing sign is the new high achieved by the Tranports, re-affirming a Dow Theory buy signal. Our strategy is to add strong stocks in basing patterns and to protect profits with trailing stops. We remain cautious, as a potential shift in the trend in Gold and the US Dollar bode potentially negative to equities, which have travelled inversely to these two asset classes.
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