Embrace the Chase
Stock Market, Investment StrategyThe indices aren't doing much but a number of high-relative-strength stocks continue to attract momentum players. Names such as Apple (AAPL), Google (GOOG), Home Depot (HD), Kors (KORS), Mellanox (MLNX), Ellie Mae (ELLI) and Francesca's Holdings (FRAN) are running while the market flops around on even breadth.
I suspect that there is a fair amount of performance anxiety after yesterday, and that is causing traders to chase the high beta names in hopes of catching up. Many of these are very extended, but chasing the big movers is what is working best....80 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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