(PSA) Public Storage: Funds need to put their $ somewhere...
High relative strength, new highs, and breaking out on a weekly time frame.
Not many stocks could make the same claim today... institutions need to put money to work. They can't just sit in cash - many are mandated to have exposure. I've heard stories of some not being allowed to have a 10% cash position. So where do they put their money? Hopefully in strength. They also can't be fully invested in stocks that are only commodity/mining based (since those are the majority making new highs this week/showing relative strength).
Not many stocks could make the same claim today... institutions need to put money to work. They can't just sit in cash - many are mandated to have exposure. I've heard stories of some not being allowed to have a 10% cash position. So where do they put their money? Hopefully in strength. They also can't be fully invested in stocks that are only commodity/mining based (since those are the majority making new highs this week/showing relative strength).