As cliche as it sounds, it is a ‘market of stocks’ and equity selection still pays offs. It is probably getting a little frothy, but picking tops is never an enticing endeavour. The best we can do is manage risk by properly adjusting our position sizes for the recent increase in volatility.
96 new all-time highs among stocks that gained 1% or more: WSM GV EAC GMK CHTR BKW TMH FLO STRZA SYNT
252 new 52-week highs among stocks that gained 1%+ today. Some of the notable movers include:
- Housing, housing, housing…anything related to it is still hot, led by homebuilders and furniture stores today – $WSM $KBH etc.
- Even consumer staples were hot with General Mills ($GIS) and Flowers Foods ($FLO) tagging new all-time highs
StockTwits 50 Highlights
- The green wave lifted all boats. 13 out of the 50 stocks gained 2% or more.
- Outsourcing and staffing agencies reminded of themselves and had a huge day. $ASGN tagged new all-time highs.
- $ADBE beat earnings estimates and gapped to new 3yr highs
» Daily Update » Momentum Wrap – The Rally Lives