Most Bullish Stocks On Twitter Grinding Higher
Over the past three weeks the most bullish stocks on Twitter have ground higher with the market. Most of the stocks in the portfolio are up between 2% and 5%. The two stand out performers are FireEye (FEYE) up 25% and Skyworks (SWKS) up over 8%. The only loser is Alcoa (AA) which is down 10%.
One thing of note is that gold stocks (GDX) had a bullish run out of a long term low in November then a retracement of about one third of the run. It is now moving back up slowly. On the chart below you can see strong bullish sentiment accompanying the January rally which could signal a durable low if the new short term strength in bullish sentiment continues. Basically, gold stocks are at a make or break point. This is similar to the action we saw in Lululemon (LULU) last summer.
Below is a performance chart and details of the current picks.
Disclosure: None.