New highs can tell an individual investor a lot about the market, a sector and a stock. IBD’s list doesn’t include stocks trading under 10 a share or trailing more than 40% of the market in earnings performance. This is appropriate because there’s little to gain by buying low-priced junk. Or as a comedian said about the junk-bond fiasco of the late 1980s: Shouldn’t the word “junk” have been a clue?