Momentum Wrap – Homebuilders and Auto Dealerships Stocks Shine Again

New Highs

34 stocks closed at all-time highs while gaining 1% or more: RKT PAG GPI MIDD LAD SRC KSU BRFS TYL FNGN

103 new 52-week highs among stocks that appreciated 1%+. Some of the notable movers include:

• The same market themes keep appearing. Homebuilders ($KBH $LEN $PHM…) have dominated since the second half of 2012. Auto dealers ($GPI $SAH $LAD) broke out in December and haven’t looked back since then.

• Breakouts continue to be very diverce: from washing machines ($WHR, which is an indirect housing recovery play) and cooking equipment ($MIDD) to refiners ($PSX $VLO)

StockTwits 50 Notables

• $KORS finally closed above $55, despite weak earnings report from another high-end retailer – $Coach ($COH). Maybe the bad news from $COH is good news (higher market share) for $KORS. There’s a bid behind it.

• $LNKD managed to close above $120 on above the average volume.

• New multi-year highs: $FNGN $TYL $LEN $PHM $SBNY $FEIC

• $GNRC, $QIHU and $ASGN among others continue to consolidate near major highs