I was just looking over the new high list, an interesting endeavor given where the S&P 500 (SPX) is, and noticed Clean Harbors, Inc. (CLHB). When I looked into the stock three weeks ago I noted the intermediate-term uptrend and discussed the potential for a short-term pullback. A look to the daily chart below shows a pullback wasn't in the cards.

Chart Courtesy of Thomson Financial

Instead of seeing a pullback, the shares staged a short sideways consolidation which allowed them to work off at least a small portion of the overbought condition. The stock now appears to be breaking out of that consolidation. That puts Clean Harbors in a position to continue to lead. The chart below plots the stock's performance over the last 12 months relative to the Nasdaq Composite (COMP).

Chart Courtesy of Thomson Financial

The point I reiterated in my last post is still one that stands today - option speculators still haven't really jumped aboard, despite the steady uptrend.

As the chart to the right shows, overhead call open interest is relatively light.

I think that is encouraging for the intermediate-term uptrend under the continued argument that it seems there are still plenty of investors out there who have yet to "find" this stock.