Interesting Stocks Hitting New Highs

The S&P remains 9% below a multi-year high set in early May and down 1% for the year, but there is a growing number of stocks breaking out to new highs. A number of them are either in Portfolios of PFG Clients or on our WatchList.

Here are a few that are catching my eye:

• McDonald's ($MCD) - The stock closed down 2 cents today, but hit a new all-time high intraday. The company remains resilient in the face of volatility around the globe and the 3% dividend yield is attractive.

• Ross Stores ($ROST) - An apparel store that I have mentioned several times hitting a new all-time high today after strong November sales numbers.

• American Water Works ($AWK) - The country's largest water utility closed at the best price ever. Utilities are strong and it pays a 3% dividend.

• Core Laboratories ($CLB) - The energy play closed at the best level ever today as it continues to be a leader in the niche sector of utilizing oil and gas wells.

I never promote buying at highs, but rather wait for a pullback to initiate positions.

** PFG has ownership in $MCD and $CLB.