Momentum Wrap – IBM Did It Again – New All-Time Highs

on March 14 | in Daily Update | by

new highs March 14

New Highs

97 new all-time highs among stocks that gained 1% or more: BFAM DYN ADUS CVLT WAGE FSBW PRIM BCC DXPE RNET SYRG …

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

  • Many claim that in an era of free applications, software is bound to become a commodity and therefore margins will shrink in the field. It seems Google’s decision to discontinue Google Reader might have opened market’s eyes that less and less companies are willing to sustain stand-alone free software . It might be that or just the fact that we are still in a bull market, but software stocks were on fire this Thursday: $IBM $CVLT $SSNC $ININ
  • Anything related to housing continues to exhibit tremendous relative strength: property insurance ($RLI, $AFSI), heavy construction ($PRIM), building materials ($APOG, $AAON), contractors ($HW, $FIX)
  • ‘Wake up early and strike oil’ might become America’s favorite slogan again. There is a quiet revolution going on in the U.S. energy sector and market has been discounting it properly by sending the shares of oil & gas companies ($RRC, $BCEI) , oil equipment makers ($CAM, $TTI) and specialty chemicals stocks ($FTK, $LYB) to multi-year highs

StockTwits 50 Highlights

  • Enterprise software stocks were on fire with $CVLT, $N and $SWI tagging new multi-year highs
  • Homebuilders and building materials were the second strongest market theme on the list: $APOG $DHI $PHM
  • There is an interesting divergence developing among 3D printing stocks: while $DDD is back all the way to its rising 200dma, $SSYS continues to gain ground.

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