Momentum Wrap – Retailers Hit By Weak Sales Data

New Highs

7 All-time highs among stocks that gained 1% or more: AEGR LOV CZZ INFI LYB RLGY CSU

19 stocks reached new 52-week highs while appreciating 1%+. Some of the notable movers include:

  • Fertilizer stocks are on the move. $MON cleared new 3yr high
  • Brazil looked “dead” a few weeks ago, but it staged an impressive rally and there are already some ADRs hitting new highs: $CZZ
  • Money is still flowing to stocks related to U.S. housing recovery: $RDN (property insurance), $BAC (bank), $HW (building materials)
  • There is some renewed interest in Chinese ADRs. The Shanghai Composite spent the second half of 2012 severely underperforming the S&P 500. As a result there were only two Chinese IPOs this year: $VIPS and $YY – both of them have done very well. We are also seeing new 52-week highs among older issues – $HOLI this week, $SFUN – last week.

StockTwits 50 Notables

  • Weaker than expected yoy retail sales growth numbers hurt all consumer stocks on the list: $KORS, $LULU, $EBAY
  • $FNGN (business svs) and $HW (building materials) hit new multi-year highs
  • Chinese $QIHU gained more than 2% and it is not too far from new 52-week highs