NEW YORK (TheStreet) -- When you look at momentum stocks -- stocks that continue higher even though they may be overvalued fundamentally and overbought technically -- Chipotle Mexican Grill (CMG) has been the leader since Oct. 1 gaining 26.3% since then. Priceline.com (PCLN) is right behind and set an all-time high yesterday.Meanwhile, Tesla Motors ( TSLA) -- the biggest gainer over the last 12 months up 338.7% -- is down 28.1% since Oct. 1 as the stock's weekly chart profile shifted to negative at the end of October. On Oct. 2, I wrote Apple, Google Lag Momentum Stocks and since then Apple ( AAPL) gained 6.7% but in the process was downgraded to hold from buy according to www.ValuEngine.com. After Google ( GOOG) reported its third quarter results the stock regained its momentum and beat Apple to the $1,000 a share price threshold. On Oct. 28, I wrote A Closer Look at Apple, Google and 5 Really Big Stocks Over $200 when I added Chipotle and Priceline.com to my list of momentum stocks. On Wednesday three of the five major equity averages set new intra-day all-time highs. Dow Industrial Average reached 15,822.98 and became overbought on its weekly chart and is 2.2% from its monthly risky level at 16,162 and 4.2% from its semiannual risky level at 16,490 and is up 20.7% year to date. The S&P 500 made it to 1782.00 just 1.2% from its monthly risky level at 1802.00 and 4.1% from its quarterly risky level at 1853.80 and is up 24.8% year to date. Dow transports reached 7,143.31 and is just 0.9% from its quarterly risky level at 7205 and is the year to date leader up 34.6%.
If you are a buy-and-trade investor here's my buy-and-trade parameters for the eight stocks on my momentum list. Seven stocks are overvalued with four overvalued by 28.8% to 60.9%. One is down slightly over the last 12 months while the others are up between 56.7% and 338.7%. All are well above their 200-day simple moving averages reflecting the risk of reversion to the mean.
Apple ( AAPL) ($520.63 vs. $487.96 on Oct. 1) traded as high as $539.25 on Oct. 29 then as low as $512.38 on Nov. 7 staying above my annual pivot at $510.64. When tracking momentum we look at Apple's weekly chart profile which is positive but overbought with its five-week modified moving average at $506.34. A weekly close below the five-week MMA with declining 12x3x3 weekly slow stochastic shifts this chart to negative. Apple's has a stochastic reading of 81.30 which is just above the overbought threshold of 80.00. My monthly value level is $490.51 with the annual pivot at $510.64 and weekly risky level at $539.99. Amazon.com ( AMZN) ($356.22 vs. $320.95 on Oct. 1) set an all-time high at $368.40 on Oct. 25. The low since then is $341.88 on Thursday. Amazon has a positive but overbought weekly chart profile with its five-week MMA at $337.61. My monthly value level is $333.53 with a weekly risky level at $371.91. Chipotle ($537.56 vs. $425.67 on Oct. 1) set an all-time high at $546.80 on Nov. 6. The weekly chart profile is positive but overbought with its five-week MMA at $494.22. My monthly value level is $509.34 with a weekly risky level at $540.67. Google ( GOOG) ($1032.47 vs. $887.00 on Oct. 1) set an all-time high at $1041.52 on Oct. 31. The weekly chart profile is positive and is becoming overbought with its five-week MMA at $975.12. My quarterly value level is $986.18 with a weekly pivot at $1024.17. Linkedin ( LNKD) ($220.77 vs. $251.00 on Oct. 1) set its all-time high at $257.55 on Sept. 11 and has been moving sideways to down since then. The weekly chart profile is negative with its five-week MMA at $229.22 so a catalyst is needed to bring back its momentum status. My weekly value level is $217.83 with a quarterly pivot at $222.58 and monthly risky level at $243.20. NFLX) ($335.28 vs. $324.62 on Oct. 1) set its all-time high at $389.16 on Oct. 22 then traded as low as $309.20 on Oct. 29. The weekly chart profile is neutral with the stock above its five-week MMA at $320.78 with declining momentum. My monthly value level is $328.64 with a weekly risky level at $342.11.
Priceline.com ($1124.20 vs. $1038.27 on Oct. 1) set a new all-time high at $1125.89 yesterday, which is just above my weekly risky level at $1124.02. Priceline is the strongest momentum stock with a positive but overbought with the five-week MMA at $1050.04. My quarterly value level is $1022.97 with a monthly pivot at $1077.01. Tesla Motors ($138.70 vs. $193.00 on Oct. 1) set its all-time high at $194.50 on Sept. 30 then traded as low as $132.32 on Friday. Tesla has a negative weekly chart profile with its five-week MMA at $158.49 so the stock needs a catalyst to regain its momentum status. My quarterly value level is $129.44 with a weekly pivot at $173.37 and a monthly risky at $212.62. At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.