Month: July 2011

17 Stocks Closed At All-Time Highs

On days when the Nasdaq Composite is down 2%+, it is always important to pay specific attention to stocks that stand out – stocks that manage to advance and reach new high in the face of adversity.

$JVA reached another all-time high. The stock is up 245% since June 9th, when it released its latest earnings report. The catalysts behind the move – 2.78M float, 47% Q/Q EPS growth, 87% Q/Q sales growth, being a member of a hot industry group, high short interest.

The stock looks awfully extended at $30, but it looked extended at $15 too, less than a month ago. According to shortsqueeze.com, $JVA still has about 340k shares sold short, which represent about 12% of its float.

Such momentum moves often end up parabolic. Tops look obvious only in hindsight. Big winners looks obvious only in hindsight too. Many stocks start their moves the same way as $JVA did – high-volume earnings breakout to major new high, but not all of them go to more than triple in a month.

Other stocks that closed at all-time high today: $ARJ $AVEO $CBOU $ELS $ESL $FOSL $JVA $LNKD $MLI $RRTS $SZYM $THR $TJX $UPI $VFC $VHC $WDFC

See their daily charts here.

Min price of $5.00
min 50-day volume of 50k
Stocks only (no ETFs or Closed-end funds)

157 Stocks Closed at All-Time High

On the graph above, you can see $SPY plotted against a 10-day MA of the number of stocks closed at all-time highs.

The number of stocks at the all-time high list continues to expand, confirming the new high in the major market averages. By most breadth readings, the market looks overbought, just like last week. Eventually those readings will matter. In the meantime, it is better to concentrate on the individual stocks, as new leaders emerge daily.

Many retailers reported better than expected same store sales for June. As a result, we see quite a few new names from the sector on the all-time high list:

Apparel stores: $RUE $DSW $GCO $FINL

Department stores: $DDS $TJX

Discount stores: $PSMT $DLTR

See charts of the whole list here.

130 Stocks Closed at All-Time Highs

The leadership continues to expand in various sectors, led by Consumer Goods, Industrial Goods, Technology and Services.

The Restaurant group has the most representatives: $DPZ $DRI $CMG $BJRI $BWLD $SBUX $PNRA $CBOU,

Followed by Processed and Packaged Goods: $DMDN $GMCR $CPO $JVA $PEET $MJN

Take a look at the daily charts of all stocks here.