Momentum Wrap – Bank of America and Citigroup Clear New 52-week Highs
- Posted by Ivanhoff
- on February 12th, 2013
The tremendous strength in the market continues as sector rotation is helping stocks with good bases to break out.
45 new all-time highs among stocks that gained 1% or more: KORS SCTY EAC TLP FRGY NCLH MOV POWL FBHC CR LPDX
155 new 52-week highs among stocks that appreciated 1%+. Some of the notable movers include:
- Momentum is back in homebuilders. Buyers stepped up near their rising 50dma with gusto. Multiple 4%+ moves today: $KBH $RYL $PHM
- Solar stocks are trading like it is 2007 all over again. A bunch of new highs in the group in anticipation of a green friendly State of the Union Speech from President Obama: $SPWR $SCTY $TAN
- Other notable breakouts: $SUP (auto parts), $FRGY (restaurant), $KKD (donuts), $ACAS (asset management), $SMTC (semiconductor)
StockTwits 50 Notables
- $KORS did it again. New all-time highs after exceeding Wall Street expectations. One of the most successful retail IPO in recent market history. Up 160% since its public debute in December 2011
- In sympathy with Michael Kors, $MOV also clear new all-time highs from a decent short-term base.
- $XXIA is knocking on the 10yr high door
- $RAX fell 7% in the afterhours on a negative earnings surprise
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