Breakouts continue | stockbee

5/20/2013

Breakouts continue

The red hot momentum phase continues. Some stocks are making big one day move , in some cases on marginal news. Gaps are common on news. 

The sentiments are also improving and as you saw on Friday the Consumer sentiment is now back at 2007 level. IPO's had best month. Many up 50% plus on first day. And more IPO's are expected  to hit the market this month.

Record number of buybacks are being announced. NOC was latest to join the party with 4 billion buyback announcement on Friday. The merger and acquisition activity is increasing.

As of now the breadth is not extremely bullish, so rally might have more room to run.

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