The Momentum Stocks Vanish
Let's begin by noting that this market is vastly different than what we saw in the spring. Let's forget the statistics and the fact that the intermediate-term indicators are now all coming in comparatively lower. To me the biggest difference here is that, in the spring, there were a handful of momentum stocks that were holding up the major indices -- and, today, that is not the case.
Take yourself back in time about six months and recall that Apple (AAPL) was the market darling. Then there was Starbucks (SBUX), which is now 25% off its spring high. Chipotle (CMG) was a darling in the spring; now, it hovers near 52-week lows. Even Lululemon (LULU), while still near the highs, has only participated by surging one day and then dripping ever since....462 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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