From the desk of Steve Strazza @Sstrazza
Welcome to the 2 to 100 Club.
As many of you know, something we've been working on internally is using various bottom-up tools and scans to complement our top-down approach. It's really been working for us!
One way we're doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B). 
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn't just end there. We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you'll notice we're only focused on technology and growth industry groups such as software, semiconductors, online retail, solar, etc.
Then, like any good technician, we filter the list down to those that are closest to new highs. This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
Our overall position remains neutral in the short term but bullish over longer time frames. While evidence for the overall market is mixed, we continue to see strong rotation away from growth stocks and into value stocks.
The selling pressure has really accelerated in the most speculative pockets of the market since late last year. We aren't seeing any signs of it slowing down just yet.
To illustrate this, here's a look at small-cap growth stocks:
The index recently violated its pivot lows that marked the completion of a massive topping pattern.
We're likely to see further downside from here, which means we want to continue to pick our spots selectively in the growth stocks that pop up on this scan.
While it's been a difficult environment for 2-to-100 Club stocks since last year, we're always going to have winners come out of this universe.
And we actually want to embrace corrective phases and volatility, as they make the real leaders stand out that much more.
As usual, we've sorted this week's list by proximity to all-time highs. Here it is:
When the selling pressure alleviates for growth stocks, these leaders should be the first to get back to new highs.
Now let's dive in and discuss some of our favorite long setups!
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