The market's rising tide has lifted most FTSE boats.
This morning the FTSE 100 traded at 6,360 to register its longest run above the 6,000 mark for more than five years.
Since the start of the year, when the 6,000 level was breached after American politicians agreed a last-minute deal to avoid the so-called 'fiscal cliff', the blue-chip index has kept above 6,000 for 32 consecutive trading days.
The market's previous best run above 6,000 occurred during late April, May and early June of 2008, when the index maintained a 31-day stint above 6,000.
The FTSE's sustained progress beyond 6,000 extends a rally that began during mid-November. The index finished 16 November at 5,606 and by yesterday had surged 13% -- or 754 points -- within 13 weeks.
Leading the FTSE charge during the last three months are shares such as ARM Holdings, Barclays, ITV, Royal Bank of Scotland and Schroders.
Indeed, no less than 60 names within the FTSE 100 are currently trading within 5% of their 52-week highs, including blue-chip favourites Reckitt Benckiser, HSBC and Tesco.
What's more, just two names -- Imperial Tobacco and Aggreko -- are trading within 5% of their 52-week lows.
Clearly the FTSE 100's rising tide has lifted most boats and bottom-fishers have now been left with very few opportunities. Meanwhile, momentum speculators are finally enjoying a few good months in the sun.
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> Maynard does not own any share mentioned in this article. The Motley Fool owns shares in Tesco.
