Momentum Wrap – Philip Morris International and Jack In the Box Hit New 52-week Highs

• Posted by ivanhoff
• on February 21st, 2013

Dividend-paying, defensive names shined today as capital does not want to leave the equity market just yet, but wants to decrease risk a bit. Look at the performance of consumer staples ($XLP) over the past week or so. $XLP is up 3% for February, while the S & P 500 is almost flat.

New Highs

17 new all-time highs among stocks that gained 1% or more: CLW MDSO SCBT LOCK WAGE PKG FURX UGP PCYC

37 stocks reached new 52-week highs while appreciating 1% or more. Some of the notable movers include:

• Jack in the Box is continues to plow into new highs. Burger stocks have been on a tear recently. Discount shops are also starting to showing relative strength. $JACK

• $PM (tobacco) cleared new 52-week high – typical defensive stock.

• $CLW (paper products) broke out to new all-time highs

• $PCYC (biotech), which is still the best performing stock for the past 2 years, made new all-time highs again.

• Grocery stores stocks showed tremendous relative strength: $KR $SWY

StockTwits 50 Notables

• Heavy pressure on momo stocks continues. 13 declined 2% or more for the day: $DDD $AZZ $KORS $XXIA $ASGN etc.

• On the green side, $V and $EOPN stood out

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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