The list of new stocks or funds selling off on high volume that were at or close to recent highs continues to outpace the new high volume highs. This is one indicator that makes me suspect the direction of the recent rally. In any event, I am still seeing quite a few municipal bond funds on the screens, and a few hit the list. This includes a Michigan bond fund that I suspect is leveraged to Detroit- who is supposedly planning to go bankrupt (see this). Also of interest is the sell in Smith & Wesson, this follows a report showing a significant surge in hand gun sales and the recent sell off in the shares of Ruger.
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