New high list bubbles over; contrarians may take notice
Although major Indices remain in the red today, breadth from a Highs vs Lows perspective remains decidedly positive (unless, of course, you are a contrarian). So far, the NYSE has placed 103 stocks on the New High list vs just 5 New Lows. Nasdaq showing 119 highs vs 4 lows... Internet stocks dominating the list with YHOO (+4.2%), AMZN (+3.3%), EBAY (+2.6%), SINA (+3.4%) breaking out. Telecom also placing a fair number of representatives on the list (TUTS +10%, CNXT +7.5%, IDCC +6.6%, SONS +4.8%, UTSI +4.8%, PKTR +3.5%, MBT +2.5%, VIP +2%).... Other notables include IBM, ESRX, NCEN, SSYS, AMTD. |
