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Friday, July 20, 2007

Earnings Breakouts

Maybe not exactky a breakout, but an acceleration of a trend. I usually don't track big cap stocks, but this is one I like.

Almost a picture perfect consolidation showing good accumulation in the base, followed by an earnings breakout, I expect this to continue, any pullbacks should be seen as buying opportunities.

The last 2 earnings breakouts did not get much follow through, but this one has good potential, although I think it is awfully extended here. If you missed it today, it will be risky to jump into it now.

Not a breakout, and an earnings disappointment, but I thought the action in CAT was very interesting. CMF shows huge buying pressure. This could be the start of a consolidation rather than a downtrend.

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