Momentum Wrap – Auto Related Stocks Are On Fire

Posted by Ivanhoff
on December 19th, 2012

New Highs

20 All-Time Highs among stocks that gained 1%+ today: VIPS TROV MHH SNFCA OSHC PTP FLTX BBSI OAK NTI INFI N SPBC CZZ COG SCL SYT MSG LUX ALGT AOS

78 reached new 52-week highs while appreciating 1% or more. Some of the Notable movers include:

Auto makers ($GM), car rentals ($HTZ $CAR), car dealers ($LAD) keep hitting new highs as auto loans have never been more affordable and Hurricane Sandy did plenty of damage on the East coast’s fleet. Even the old dog General Motors is at 52-week highs.
Housing recovery theme continues with full force – lumber ($LPX), building materials ($APOG, $NX, $MIC), regional banks ($CPF $PACW), property insurance ($PTP), distressed debt ($OAK)…
Airlines at the new high list again despite crude oil perking up over the past few days: $ALK $CPA $ALGT

StockTwits 50 Notables

$IPGP approaching multi-year highs from a decent base
Nasty reversal in $ISRG after Citron Research published a negative piece. ISRG gave up its gains from past two weeks
New multi-year highs for $MIC $N $ARMH $AKAM $CRAY
Regional bank $SBNY is approaching all-time highs after weathering very well the general market correction in October/November
$NTCT is perking up and cleared recent resistance after consolidating sideways for the past 3 months or so.
$XXIA had a 4%+ day and it is very close to new 52-week high

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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