The first quarter of 2013 is already behind our backs and what a quarter it was. 2013 was expected with so much fear. The economy was supposed to fell off a fiscal cliff and with it the stock market. Needless to say, even the biggest optimists, which weren’t many, were pleasantly surprised. As the wise Irishmen like to say “the obvious rarely happens, the unexpected constantly occurs.”
The best performing industry for the first quarter was healthcare, which should not come as too big of a surprise if you have paid attention to what happens on the new highs and the St50 lists:
Generic drugs have done even better than biotech.
For the week, the St50 Momentum index gained 0.84%. Top performer was $CRAY, which sell supercomputers and joined the list 24 weeks and 90% ago. A small float, a good story and a bull market could do wonders for performance.
America still runs on plastic apparently, as $V and $MA cleared new all-time highs last week. $V has been extremely strong ever since a rumor about purchasing Visa Europe resurfaced in the press. Both, $V and $MA have proven to be exceptional long-term holdings and online sales growth’s plays, but one of them has done a lot better since its IPO.
$MELI cleared another pivot point on Thursday and it looks ready to test the $100 mark this week.
The latest 3D-printing company to become public – $XONE, reported better than expected earnings, which gave a boost to the whole industry. On the St50 list, $PRLB looks the most solid and if it clears $50, next stop might be new all-time highs.
You can easily follow any or all of the stocks in the ST50 on StockTwits by clicking here.
Have A Great Weekend!