Momentum Wrap – American Express Hits New 3-year Highs…LinkedIn Demolishes Earnings Estimates
- Posted by Ivanhoff
- on February 7th, 2013
Volatility is notably picking up, which typically occurs near tipping points. With that in mind, it is still a “market of stocks” environment, where breakouts are working and dips are getting bought.
36 new all-time highs among stocks that gained 1% or more: GEOS VIPS RRTS CZZ PBH MMS PTP ZTS ALDW SNFCA SRCL
93 new 52-week highs among stocks that appreciated 1%+ today. Some of the notable movers include:
- The private sector might be deleveraging, but credit card companies keep hitting new news. American Express being the latest example. Everything is cyclical on Wall St, especially sentiment. $AXP
- There were only two Chinese IPOs in U.S. over the past 6 months, which reflects the general sentiment toward those assets – $YY and $VIPS. The latter just cleared new all-time highs and is amont the best performers in the past three months.
- Other notable breakouts: $SRCL (waste management), $GEOS (technical instruments), $MPWR (semiconductor), $PTP (property insurance), $HBI (‘fruit on the looms’) etc.
StockTwits 50 Notables
- There are always some winners in a “market of stocks” environment. $XXIA, $TYL $IFF cleared new multi-year highs on a monstrous volume.
- $LNKD just demolished earnings estimates and shot 10% higher to $135 in the after-hours, tagging new all-time highs
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