$JAZZ advanced almost 6% to new all-time high on double its average daily volume. The stock has gained 325% for the past year. It managed to recover from a 25% correction in May-June. The company beat the eps estimates by a small margin for four consecutive quarters. Next earnings reports in due July 28, AMC.
Some notable moves to new 52-week high include: $NUS $TIN $OCN $DDS $SCLN $PVH $GLUU $MSTR
On the day $SPY gaped 1% and then lost almost the entire advance, $LNKD closed at new all-time high. The only day the stock traded above its current price was its IPO.
I have no idea what LNKD should be worth. Its critics don’t know either. They say that it should be worth less than it is now. All I know is that when an industry or sub-industry becomes a “concept investment”, large number of funds will allocate percentage of their capital towards it. Social media has become a separate investment concept and there are not many pure plays of publicly traded social media stocks. At this point I have no positions in $LNKD.
Other stocks that closed at all-time high: $AFSI $BJRI $BPI $CASY $CHT $CLH $CPX $DDD $EXPO $FOSL $FRNK $GTS $GTU $HITK $IPAR $KIOR $LNKD $LQDT $MGLN $MLI $MWIV $NFLX $NPO $OSIS $OTEX $POL $PRGO $RGLD $SHPGY $SPSC $TAOM $THR $TNAV $TRNX $WGL $XG
On a side note, Moody’s ($MCO) decided to attract some media attention and warned that the U.S. could lose its Aaa rating. At of the moment of writing, indexes are down about 0.5% on the news. Do downgrades matter? Yes, they do – a lot. Banks are not required to hold capital against debt rated AAA as it is labeled “risk-free”. A potential downgrade might find some banks under-capitalized. The economy can impact the market and the market can impact the economy too – the relation is systematic. Reflexivity in its full force.
The market averages are down for a third day in a row, but there are still stocks that have managed to overcome the general market weakness and are trading at levels they have never traded before. $RGLD was one of them. Other gold miners that closed at their all-time high include: $XG $GTU
The U.S. dollar index ($UUP) was barely down today, but the common denominator among some of the best performing ETFs today was “rising inflation expectations”: Gold: $NUGT, $GDX; Agriculture: $DAG; Oil: $UCO, Grains: $CORN $GRU
Other stocks that closed at all-time high: $AFSI $CAG $DDD $ELS $FLDM $FOSL $GTU $HITK $IDA $LQDT $MLI $RRTS $SZYM $THR $TRNX $UPI $VFC $VOC $WDFC $XG
Min price 0f $5.00
Min average daily volume of 50k
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