Very Tough Day for High Growth Crowd

Submitted by Mark Hanna

Courtesy of MarketMontage. View original post here.

Your view of the market is colored by the stocks and sectors you tend to follow closely; by that measure this is quite a poor day even as the indexes sit mixed. What is working today is a lot of beaten down resource (think coal, oil service) stocks – what is not are the leaders of 2012. Especially those with the high growth rates. A sampling of the damage out there.

Ulta Salon -6.1%
Tempur Pedic -5.9%
Under Armour -4.8%
Lululemon -3.8%
Salesforce.com -3.5%
Michael Kors -3.2%
Chipotle Mexican Grill -3.1%
Alexion Pharmaceuticals -3.1%
Herbalife -3.1%
Rackspace Hosting -2.9%
Baidu -2.4%
VMWare -2.4%
Apple -2.3%
Nike -2.2%
Priceline.com -2.1%

This is like a whose who of the Investor Business Daily type stocks…

As an aside the S&P 500 is right back to that magnet of a level, 1370.

Disclosure Notice

Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog