Brilliant and crisp observation from Jonathan Krinsky, Chief Technical Analyst at Miller Tabak.
4 stocks hitting new 52 week highs today are Churchill Downs (CHDN) +21.7% ytd, Diageo (DEO) +29.8% ytd, Royal Gold (RGLD) +45.6% ytd, and Smith and Wesson (SWHC) +154% ytd. CHDN, DEO, and RGLD actually hit all time-highs today. Maybe the takeaway is, people are enjoying themselves now, but fearful about the future?
Perfect.
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