Momentum Wrap – The Dip Didn’t Last Long. 71 New All-Time Highs

Posted by Ivanhoff
on February 5th, 2013

That dip didn’t last long as anxious buyers did not wait long to jump back in. A lot of new highs from various industries. Volatility is rising, but it is still a “market of stocks” environment that provides good opportunities for both longs and shorts.

New Highs

71 all-time highs among stocks that gained 1% or more: VMED BCEI CHTR MNTX SNFCA EL ABG RBC ETN DK

185 stocks reached new 52-week highs while appreciating 1%+. Some of the notable movers include:

Many of yesterday’s breakouts, followed through today. A good reminded to pay special attention to the ‘new highs lists on bid red days for the general market: $AMWD (furniture) and $CPSS (credit svs), highlighted yesterday, were among the biggest gainers today.

It is still a refiners’ world as the whole group keeps going up every day:$DK $PBF $TSO etc.

Other oil&gas stocks are also perking up. $BCEI and $PDCE broke out.

The industrial electrical equipment industry is on fire: $RBC $ETN

Cable channel stocks are trading like the TV was just invented. Many of them are up 40-50% in the past quarter. A bunch of new highs today: $TVL $SBGI $NXST

StockTwits 50 Notables

It was a 90% green day for the St50 list. The biggest gainers: $ARMH (smart chips designer), $DDD (the next big thing – 3D printing), $GNRC (power generators), $POL (specialty chemicals)

$JAZZ, $TSM, $CTRX and $XXIA are setting up near multi-year highs

$KORS tested its rising 50dma and bounced on a huge volume

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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