Momentum Wrap – Stocks Slammed, The All-Time High List Almost Empty
- Posted by Ivanhoff
- on February 25th, 2013
The S & P 500 had its worst day since June last year. Correlation and volatility picked up. The pullback did not leave many prisoners. With the number of distribution days pilling up, $SPY seems on its way to test its rising 50dma – something that looked like a fairy tale a few days ago. Things could change quickly in the market. These are the times to pay attention to relative strength. The new batch of leaders will show themselves by making new highs while the averages are in the gutter.
7 new all-time highs among stocks that gained 1% or more: VIPS FRGI SSTK AMGN CSGP TARO RPAI
17 new 52-week highs among stocks that appreciated 1%+. Some of the notable movers include:
- Security software stocks tried to stage a comeback with $KEYW making new 52-week highs and $FTNT and $FIRE holding near multi-month highs, but the gravity from the general market weakness pulled them back.
- $BGFV (Sporting goods) broke out from a decent base on strong volume
StockTwits 50 Notables
- 3D printing stocks were under notable pressure at the open as 3D Systems missed sales estimates: $DDD $SSYS $PRLB
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