New 52-Week Highs Beget New 52-Week Highs?

Yesterday (02013.01.24) was a good day for the GDT::Portfolio because five stocks made new 52-week highs. Amazon.com (AMZN) hit $276.65; Bruker (BRKR) hit $17.35; Cray (CRAY) hit $18.86; Trimble Navigation (TRMB) hit $63.83; and, Yahoo! (YHOO) hit $20.52. The day before yesterday (02013.01.23), US Airways (LCC) hit a new 52-week high of $15.64. Today (02013.01.25), Google (GOOG) and Hanger (HGR) are both less than 3% away from new 52-week highs.

There's an old Wall Street adage that goes something like this: New 52-week highs and lows are frequently followed by new 52-week highs and lows. Right now I hope this adage holds true and that it holds true for a nice chunk of time.