Momentum Wrap – TV Is Not Dead and REITs Are Currently The Hottest Asset On Wall Street

on April 8 | in Daily Update | by

new highs April 8

New Highs

42 new all-time highs among stocks that gained 1% or more: EPL EAC NXST APO HHC NWSA TSCO DIS HBI

111 new 52-week highs among stocks that appreciated 1%+ today.

There were four major themes today:

  • Japanese equities continue to gain ground while the Yen is getting pummeled. $TM $NMR
  • Media and TV Broadcasting stocks are still among the best performing groups in the market and breaking out:  $DIS $NWSA $VIAB
  • REITs and Utilities keep attracting money and making new highs: $SPG $OFC $SWX $PNY etc.
  • Property and casualty insurance stocks are on fire, led by $AIG, $HMN, $ACE

StockTwits 50 Highlights

  • 42 of the stocks finished the day green. 4 gained 2% or more: $TSCO cleared new all-time highs. $KORS and $GEOS recovered some of the lost territory from last week and are holding above their rising 100dmas. $CRAY is back above its 20dma.
  • Restaurant stocks continue to outperform: $RUTH, $PNRA, $DNKN added to their gains from last week. $CHUY is consolidating near all-time highs.

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