New sectors keep breaking out | stockbee


New sectors keep breaking out

Market Monitor  

Daily# of Stocks Up >4% on high volume325
Daily# of stocks down >4% on high volume  132
Primary# of stocks up >25% in a quarter3407
Primary# of stocks down >25% in a quarter 240
Secondary#of stocks up >50% in a month38
Secondary#of stocks down >50% in a month2
Secondary#of stocks up >25% in a month272
Secondary#of stocks down >25% in a month40
Primary fast  MM 34/13 + 2999
Primary Fast  MM 34/13 - 629

  • The top line indication from Market Monitor currently is a likelihood of a dip as # of stocks down 25% in a month is approaching 200 levels.
  • Such levels tend to lead to pullbacks. 
  • We have had 4 back to back 300 plus days in last five days. 
  • As a result of this buying pressure the # of stocks up 25% in a quarter has gone up from 3146 to 3407 in last five days.
  • At these levels these readings are at highest level since this bull move started on 10 th March. 
  • On 9th March the #of stocks up 25% in a quarter was at 483.
  • So we have seen impressive breadth improvement in last few months. 
  • That is what is reflected in our individual trades so far. 
  • We have been able to continuously find trades which made between 8 to 40% moves in few weeks since 10th March.
  • As of now the number of stocks up 50% plus in a month is at 38. Which indicates that big 50% plus moves as % of total moves are not high currently.
  • During the really explosive phase of this rally we had 300 plus stocks up 50% plus in a month.
  • So market has cooled down and more moves are of 10 to 15% kind in a month currently.
  • This is also reflected in the # of stocks up 25% in a month. This number is currently 272, compare that to April when the number was as high as 1400.
  • So overall we have a market which is going up but the number of explosive moves (moves of 25% plus in a month) are not many compared to earlier phase of rally.
  • That is one of the reason I have been taking profit at 10 to 15% levels on our trades as compared to previous period.
  • How does the breadth number #of stocks up go up from 483 to 3407, by broadening of sectors and stocks participating in the rally. 
  •  If you monitor the sector action daily you would notice this, everyday new sector stocks are having a breakout continued......

1 comment:

The Sound Center said...

Thank you, Pradeep. I appreciate it.