Momentum Wrap – Auto Makers and Auto Dealers Hit New 52-week Highs

• Posted by ivanhoff
• on January 3rd, 2013

New Highs

32 All-Time highs among stocks that gained 1% or more. Some of the  bigger gainers include: UNF FLO HRL HSNI  LAD POL PIZZA WAB

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

• Anything auto-related keeps powering higher with car makers ($F) and auto-dealers leading the way: $SAH $LAD

• Specialty chemicals stocks are on fire: $POL $CYT

• South American banks are following their U.S. counterparts and clearing new highs: $BBD $CIB

• Restaurant stocks are breaking out: $PZZA $KKD

• Keep an eye on $MPEL – new 5yr highs today and with online gambling likely to be legalized this year, it has a solid catalyst behind it

StockTwits 50 Notables

• After two and a half monstrous days in the market, many momentum stocks look tired and extended and in need of consolidation, either through price or time. Be careful and don’t chase blindly here

• New multi-year closing highs: $POL $ASGN $QIHU $LEN $TSM $MIC

• $TASR tagged new 4yr highs but closed far below its high of the day

• $CONN is starting to show some signs of distribution. It is one of only three St5o stocks that are negative for the week so far

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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