Many Stocks Making 52wk Highs

After waking up and reading some of the daily reports that get sent to me in the morning, it has come to my attention that yesterday, over 300 stocks on the NYSE broke into new 52 wk high territory. This is the second largest jump since the rally began in March. Also over 3/4’s of the volume was up related.

As a result, I’m scanning through one of my favorite screens that I made a few months ago. It’s descriptive title says it all “Accumulating within 5% of 52wk high“. Scanning today, there are over 370 stocks within 5% of 52wk highs.

No.	Ticker	Acc. Dist. Score	Hybrid Score	% From 52 Week High	Price
1	ASPM	5.00	4.46	0.75	11.98
2	BZ	5.00	4.40	0.18	5.60
3	NTL	5.00	4.26	2.67	12.30
4	TKC	5.00	4.13	1.87	17.82
5	TCK	5.00	4.11	2.45	28.23

The stocks above are just 5 of the over 370 and sorted by highest hybrid.

There are many gold plays and whether or not we get a pullback is anyone’s guess. I’ve decided to hold onto my holdings, for now.

I looked up some screens on The PPT and eventually settled to just check the gold industry page.

I’m going to post the top technical, hybrid and daily hybrid % change stocks.

Top Tech in Gold Industry:Gammon Gold Inc (GRS)

Top Hybrid in Gold:

Eldorado Gold Corp Ltd Fgn (EGO)

Top Daily Hybrid % Changer in Gold:

Exeter Resource Corp (XRA)

That should be enough hand-outs for now. I’m already deep into EGO which I was pleasantly surprised when I saw it as #1 in the hybrids.  I’d never even heard of XRA or GRS until doing this screen, reason #925251251252 why The PPT is worth it’s weight in gold. Being the patient character that I am, I’m not going to rush into adding to these positions just yet.

If you’re long the dollar you’re eating dirt, if you’re long gold like the “cool kids” are, you’re banking coin.

Gold, hit a new record high ~ $1041 an Oz. This is great news for miners and anyone related to the industry. Why is it climbing you ask? Just go read “JakeGint’s” postings, the guy has been pushing precious metals forever and being the clever, regal character that I am, I listened. On that note, thank you Jake, rising fictitious stein filled from a green imported bottle. On a side note, I remember when gold was 250 an oz in University… I digress.

Looking through my portfolio I realize that I did buy some stocks near the recent bottom, not on the day of the bottom but the trading session before as seen in the comments here.

I sold the majority of my precious metals on the first rip gold had a few weeks ago. Took most egregious profits and have been buying it back since, at a lower price of course.

I now hold 60% of my original ELD.TO(avg ~$11.70) position, sadly just slightly lower than what I sold out previously.

I own a decent position in YRI.TO(avg, $11.25) and bought some EDR.TO(avg, $2.76) recently.

For you yanks, that’s EGO, AUY and EXK.

I’m deciding whether I should just sell a bunch now, frankly I don’t work anymore and am touring the world so I’m more inclined to take profits when I can, flip side is do I really need more money sitting in my account earning nothing as the gov has effectively castrated the few, the proud, the savers!?!?!

Oh decisions, but enough of this, I’m off to go play some golf.

I’ll keep this brief, for a smart guy I probably should of negated the responsibility of such a prestigious position seeing as I’m never near a computer, don’t work 9-5 anymore and am doing “totally unrelated shit” these days. How much easier it was to blog endlessly when my days were spent behind a desk, staring at a god damn screen anyways.

I’m here to talk about beta, no I’m not talking about YOU the opposite of an alpha, or that queer little fish that will fight any other member of its species to death, given the chance. I’m talking about stock beta’s, listen up.

In the event we continue melting up, effectively sheering the back hair from those grizzly bears, I’m looking at stocks with high beta, for a trade.

No.	Ticker	Acc. Dist. Score	Technical Score	Short as % of Float	Beta	Price
1	SPRD	5.00	4.72	0.00	3.51	4.91
2	CATM	5.00	4.62	1.60	3.46	8.60
3	PIN	5.00	4.06	0.00	3.39	21.37
4	VQ	5.00	4.08	5.20	3.18	12.29
5	EPI	5.00	4.17	0.00	3.12	21.16

These 5 stocks all have technicals over 4 and are rated by beta, there is actually a LONG LIST (36) and if you’re a member of The PPT please enjoy them, if you’re not I figure this is enough table scraps. I will note however that all the stocks listed above gained 3-13% in today’s melt-up. High beta buys may be a way to play future PPT bottoms, for a trade of course.

As you were,

I’m sitting here, in a bullshit cafe sipping on some soup, served in a mug. After the pullback we’ve had, this is it? This is  all the bulls have to throw? A paltry 80 on the dow, less than ~1% on all major indexes? Rubbish! (Spitting out soup on some unsuspecting hippy drinking “organic brewed”) I want to see a major rise, if not this could be just a temporary “resting spot” on a landslide downhill.

I’m sitting this out with my riches, also considering the vast majority of my portfolio is not in any major index, this rally is doing little for Sir Dubz coiniage (sic).

Granted, I enjoy risking my life and limbs as much as the next guy, but I want to see some serious buying conviction before I throw any more of my ammo into this battle. I’m after the war, battles mean little to me. We’ve had a killer run since March and if this is the “last herrah” of late longs before they are slaughtered, I want nothing to do with it.

That said, I tip my hat at those who continue to rush the gates with great vigor and zeal.

Enough of this, I’m off to the course.

Unless you’ve been living under a rock, I’m sure you’re aware that we’re in some type of correction. I came cross a helicopter magazine this weekend and wrote a piece but need to do further research. The main company I was discussing, thinking of is privately held. Lame and the quest continues as I do see helicopters as a great solution to personal air travel in the future.

The market is “correcting”, receding, pulling back etc… As a result I’m curious what stocks are still doing well despite, with a technical score above 4/5.

I-Flow Corp (IFLO) – Tech: 4.59 – Hyb – 4.36
The company is improving surgical outcomes by designing, developing and marketing technically advanced, low cost drug delivery systems and innovative surgical products for post-surgical pain relief and surgical site care.
Note: This is the #1 stock in The PPT at the time of this writing.

Companhia de Bebidas das Americas (ABV) – Tech: 4.44 – Hyb: 4.25

The Company produces, distributes and sells beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in 14 countries across the Americas.

Xyratex Ltd (XRTX) – Tech: 4.24 – Hyb: 4.23

The Company is a provider of modular enterprise-class data storage solutions and storage process technology.

**Note: This thing is a beast and The PPT has nailed it from the beginning. I got in in the mid 3’s and sold not too far from it a long time ago. Everytime I see it i think it’s due for a pullback but keeps going higher. This is a perfect example of why you don’t sell strength when you’ve got a cushion.

Hopefully the market doesn’t continue the “longs” castration party that’s been going on of late. Flip side is I’m not overly invested so with each declining day it’s bitter sweet so to speak.  On my  buy list as always is Suncor. Anywhere ~$33 or under is when I’ll start buying again, hopefully not sooner.