Only One for High-Ku
The S&P 500 reached new high territory today. Several of the stocks in my portfolio are knocking on the door of the 52-week high party, but only one made in to bright lights and music.
Little NN, Inc. (NNBR), a small bearings and precision parts company, got it's invite with a new high of $16.49. This company has a special place in my heart since it's my first and only ten-bagger. Without further adieu, here's the haiku.
A small cap industrial,
Just rolling along.
It's a little concerning to see only one stock in my collection of about 20 hit a high with the market. That either means I've got a portfolio that's got some diversification or stock selection problems or that this is a pretty narrow high driven by a few of the bigger names in the index. I think the latter is more likely and from some of what I've read or heard from talking heads, a narrow advance isn't typically sustainable.
Fool on! Russ
What do you think, are things getting expensive and toppy or is the market headed higher? 'course, the two aren't mutually exclusive.