Friday, May 04, 2007

Breakout-Pullback Watchlist

Here is a list of breakout pullback candidates. Note that these are not primary watchlist candidates yet. We want price to slowly pullback to the entry point on diminishing volume, which should take a few days.

Some of these stocks have been trending up and are under accumulation, which is what we want. This decreases the risk of a breakdown at support; negating the need to wait for confirmation before entry. If a stock has been in a downtrend or has not picked up in volume prior to breakout, I would wait for confirmation before entry.

CMG: pb $72-74
TTMI: pb 10.50-11
UNTD: pb 15
BWLD: pb
MNST: pb 46
AH: pb 72-73
GTI: pb 11
SMDI: pb 10
EDO: pb 29-30
PDGI: pb 29
GMCR: pb 66-67
IGLD: pb 15
NVEC: pb 32
KNOL pb 18


walter said...

zolt = earnings breakout

The Market Speculator said...

Are you trying to rub it in my face, Walter ;)

This one kills me. Before exiting, I had debated whether to place my stop under the 50 day moving average or the gap point. If I'd have went with the gap point, I would be swimming in profits right now.

I dont' think now is the time for entry though. I look for earnings plays that break resistance, and this one is butting right into it. However, the stock is on my watchlist. If it can base at this level, I'd buy a breakout of $36. It also might be a decent play on pullback to the 50 day.

walter said...

no rubbing intended - i just think i can learn more by more longitudinal studies and posing some questions, etc.

regarding your current approach - its on watchlist - looking for pullback or breakout - not time to act right this second.

in general, i think it will go up, just a matter of how, when and from where...

have a good weekend! said...

Thanks for posting your watch list, very helpful.


bp said...

Thanks for the watch list, I exited DXPE today at 49.95, I just could not pass up the +4% THANKS .... I cant trade til Wednsday and was unsure on how long to hold these winners... Better safe than late, eh?

walter said...


have you come across BTJ at all in your chart scanning?

i like the chart - price action, volume, accumulation, good earnings, etc.