The markets have been driven higher by Fed QE3. In last few weeks a hint of Fed tapering off QE has put little bit of pressure on the market. We have seen series of negative days. But no serious selling so far. A range bound action is happening at this stage.
The stocks with momentum continue to act well. Some are extended , some are reversing after a big move, and some are setting up for further gains.
When market undergoes correction, many stocks with momentum continue to hold their gains and when market breakout to high again, they breakout. A consolidation/range bound action like we see currently is good for creating good setups on momentum stocks.
MNKD is one of the stocks from Top 25 stocks by momentum that is possibly setting up for further gain.