Nine Week Performance Recap: US All-Time Highs from Nov/20/2009

The market is looking less healthy. Taking a look back at stocks that made new all-time highs in the week of November 20th confirms this diagnosis (US stocks over $10 originally highlighted on the blog here). Only 17 of the 49 stocks stayed positive, and only 12 beat the Russel 2000 (IWM). SMLC (012 Smile Communications) retained its title as the biggest gainer (up 51%). I've highlighted two of the top four names several times over the past couple months, EW was up 11% and NRGP was up 26%. MED (Medifast Inc; down 32%) continues to slide after breaking through its 50 dma and it is among the worst performers. As I said last week: take notice when a leader starts rolling over like this. We shall find out whether MED will get support at the 200 dma. So far there hasn't been much buying, however, Finviz reports there is institutional buying behind MED. Small caps are leading the indices and GLD is lagging. The US dollar (UUP) is making higher highs off the low so we may be in the process of seeing a change in the dominant trends. Stay nimble. Here is the performance chart.

See last week's comments for more details on LMDIA and MVL.