Momentum Wrap – Biotech, Medical Instruments And Drug Stocks Are Rallying

Posted by Ivanhoff
on December 11th, 2012

New Highs

21 All-Time Highs among stocks that gained 1% or more: ODC, CRM, ATOS, NTK, GILD, CHMT, MPLX, BBSI, CELG, NSR, MCK, ALK, MMS, TRS, CMN, ASR, CFX, GEOS, VAR, BKW, TREE

73 stocks reached new 52-week highs while gaining at least 1%. Some of the notable movers include:

Healthcare groups are on fire. Biotech, medical instrument and appliances, drugs are all breaking out: $GILD $VAR $THOR $CSII
As oil hovers near 5-month lows, regional airline stocks continue to surge: $ALK $LUV
Semiconductors continue to recover and stage breakouts after tough September and October: $CREE $MIPS $ADI

StockTwits 50 Notables:

All eyes were on $CRM as it cleared all-time highs. Obvious setups simply work in the beginning stages of market recovery. $BAC proved it last week too;
Just when $N looked vulnerable below its 50dma, it staged a massive rally and now it is not too far from its all-time high; $N continues to be an appetite acquisition target for many;
$ISRG looked a little broken last week, but it managed to recover nicely over the past two days. It is always positive to see high price-tag stocks to rally as it signifies institutional involvement;
$LULU continues to consolidate after its earnings move. It is very close to a breakout.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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