Stocks breaking the all-time high barrier

(USA Today) A large and growing number of stocks are hitting all-time highs along with the broad market — a sign of underlying strength that could portend more gains ahead. All told, 106 stocks in the Standard & Poor’s 500 are at or within 2% of their all-time highs, a commentary on how the market isn’t being held up by just a few runaway winners, but a swell of companies from a swath of industries that are hitting their strides. Seeing broad leadership instead of just a few darlings comes as the S&P 500 on Tuesday hit another all-time high, the fourth in a row, capping a 23% gain this year. “We are nowhere near a market top because this rally has real internal strength in it,” says Ken Winans of Winans Investments. “This bull run has room to run.”

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Posted on October 23, 2013, in Uncategorized. Bookmark the permalink. Leave a comment.

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