Rotational correction | stockbee

5/29/2013

Rotational correction

The market had a great opening which was quickly faded once first hour was over. Many stocks that had early morning breakouts faded by end of the day. All in all not a convincing positive day.

As market is as of now having mini correction/pullback, many high flying momentum stocks are also in same mode. But at the same time money keeps rotating and new stocks are emerging to take on the leadership from the current leaders.

Some stocks like TSLA continue to be in good momentum phase.

The momentum ranking is having some changes as this rotation continues.

Top ranked stocks by momentum:


  1. rsol
  2. yrcw
  3. vrml
  4. scty
  5. tsla
  6. csiq
  7. htch
  8. jaso
  9. clnt
  10. vnda
  11. esi
  12. rvlt
  13. plug
  14. tmus
  15. mnkd
  16. noah
  17. ostk
  18. unis
  19. egle
  20. spwr
  21. iqnt
  22. insm
  23. ggs
  24. drl
  25. llen
  26. ecty
  27. aegr
  28. dang
  29. nsph
  30. hsol
To find new leadership you have to go down the ranking and look at stocks ranked 31 to 100. In that some stocks are having very orderly pullbacks and they will be the first to breakout once market correction is over.

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