Momentum Wrap – Google Hits New All-Time Highs

• Posted by ivanhoff
• on February 19th, 2013

We are in a market stage, where price momentum is the most powerful and relevant catalyst. Stocks continue to defy gravity and laugh at any comments about divergencies, breadth decceleration and overbought levels.

New Highs

115 new all-time highs among stocks that gained 1% or more: INFI CBPO MX TNC SAM ROC VRTU DKL CG TSRO BRS

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

• $GOOG closed above $800 for the first time in its history as rumors about opening its own retail stores resurfaced in the press. $GOOG is the new hedge fund hotel.

• Regional banks are on fire and with the most representatives on the 52wk high list: $COBZ $OKSB. Property insurers are right behind them: $AMSF $SIGI

• Solar stocks continue to shine:  $SPWR $WFR

• Five staffing & outsourcing svs stocks on the 52wk high list today: $BBSI $RHI $KELYA etc.

• There was a beer rally across the globe today with $SAM, $FMX and $ABV hitting all-time highs

• Other notable breakouts: $SMA (medical equipment), $ROC (specialty chemicals), $CHE (home healthcare svs), $NEOG (diagnostic substances)

StockTwits 50 Notables

• $TSM cleared new 10yr highs as investors expect the Taiwanese semiconductor to receive more business from Apple. The whole semiconductor sector is strong in general too.

• $AZPN tested successfully its rising 20dma and now it is rising again

• A few stocks that are hovering just below breakout levels: $TIVO $POL $CLGN $ADBE $JAZZ $XXIA

 

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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