IBD50 results June 6th.
The IBD50 was off 2.16% compared to Friday’s close (SPY:-1.05%). There were only three winners today:
- SWI +1.0%
- ARMH +0.25%
- SMTC +0.19%
There were some punishing losers too:
- MELI -8.39% (this is why we have stops, hopefully!)
- CHSI -6.29%
- RES -5.83%
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But how about the IBD newcomers? As a group they were down 1.91% from the open (which is when we would have bought them). They run the gamut from OK, not so bad, to “Oh Dear”. Clearly, the expected hooplah about Apple’s iCloud fell a bit flat. Oh well…………
Solarwinds, SWI, one of today’s winners and the sole leader out of the newbies today, is holding tight above its 50-day SMA, which, given the current market action is encouraging. Nice volume too.
Click on the chart to view full size. Chart courtesy of TC200.
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