Momentum Wrap – 2013 Started With Fireworks

New Highs

163 All-Time Highs among stocks that gained 1% or more. Some of the more liquid big gainers include: POL AEGR DDD STZ ASH MD DORM CP TRS EQIX

520 stocks reached new 52-week highs while gaining 1%+ today. 2/3 of them finished above their opening print. Some of the notable movers include:

• After underperforming in December, U.S. based companies dominated the 52-week high list on Wednesday – side effect of the budget deal

• Staffing and outsourcing agencies continue to shine. Big trend from 2012. $ASGN $TMH

• Property and Casualty insurers keep making new highs, even the big dog Berkshire Hathaway: $BRK.B $HMN $MHLD $EIG

• Small cap Regional banks were strong too: $OKSB $WSBC $CPF

StockTwits 50 Notables

• It was a “Gap town” all over the place. A bunch of new multi-year highs. Some of them: $ASGN $POL $DDD $LNN $DPZ $EBAY

• New all-time highs for $TSM. Apple has already requested Taiwan Semiconductor Manufacturing Company to produce its next-generation A6X processors, reports the Taiwanese financial newspaper Commercial Times.

• Retailers and Consumer discretionary stocks were notably weak. $LULU and $KORS were among the worst performers on the list

• $LNKD was the first St50 stock to turn red in the morning and it proceeded to weaken later in the day