Market Monitor

• Market continues to rally, with number of new stocks witnessing breakout after a long time.
• 100% plus and 200% plus stock universe is again at new high. It took around 25 trading sessions for this.
• Stocks in both IBD 100 and IBD 200 are doing well. If you compare the list with lists 25 days ago, you will notice a large number of new leaders have emerged.
• The nature of market is such that by the time you realize last correction was just a garden variety one, the next correction might be around corner. If you just go back and see what was being written about 20 to 25 days ago, you would notice all kinds of doom and gloom scenario with Bear Stearns problem being front and center. If you get caught in such scare mongering, you are most likely to miss on good market opportunities. But human nature never changes.
  
• Today is the first day of new earning season and so if you are ready, you will find many more profitable opportunities.
• The earnings this quarter will be very good, because there are no major negative pre announcements so far.