Momentum Wrap – Headline-Driven Market

on December 27 | in Daily Update | by

We are in the midst of high-correlation, choppy market, driven by headlines from Washington. Many of you might recall Jessy Livermore’s observation that “there are times to be long, there are times to be short and there are times to go fishing”. This past week has been a good time to go fishing, golfing, surfing, hiking, competitive eating or whatever else you enjoy doing. Tomorrow won’t be any different.

New Highs

11 All-time highs among stocks that gained 1% or more: RGLS RKUS CHMT LXFR DLPH RLGY HPP SCL RSE DPZ SKT

27 stocks reached 52-week highs while appreciating 1%+. Some of the notable movers include: NONE

StockTwits 50 Notables

  • 3D printing stocks $DDD and $SSYS are showing clear signs of profit taking. Every time when something becomes widely popular “sure thing”, take a step back
  • $HW reversed from new 3yr highs intraday and gave back most of its weekly profits
  • $DPZ tagged all-time highs
  • There are still plenty of momo stocks that are holding well, but in this environment news from Washington is likely to trump any individual catalyst.

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