Checking the all-time high list is part of my daily routine and it is one of my ways of living in the future. Financial markets are forward looking and sometimes the all-time high list is a shortcut to the minds of the smartest people in the world. (sometimes is just a reflection of myopic and irrational greed, but this is a topic for another discussion).
Anyway, 208 stocks reached new all-time highs on Friday. 82 of them gained at least 1% on that day. There were 6 restaurant stocks: $DNKN $THI $TXRH $BWLD $CAKE and $CBRL and 3 grocery stores. 13 regional banks and Savings & Loans stocks. Also, a few asset managers, insurance brokers, REITs and a credit card company. This is a pretty bullish bet on consumer spending and low inflation (low input costs). Also, the housing-recovery related stocks are having a come-back.
Here are the 5 new all-time high breakouts that made me the biggest impression from technical perspective:
