Recommended Reading

Google Search

Charts courtesy of

Saturday, May 17, 2008

IBD 100

Overall, the IBD 100 was up more than 4% last week, showing that there is leadership giving this rally some legs. SOL was the top gainer. I posted this on Mnday when it broke out. It paused a bit, then got an enormous volume surge which took it up. Look for it to pull back a bit on light volume, that should give a decent entry point.

DRYS was the second biggest gainer, as it builds the right side of a long base. It also got a kick from increasing volume. Last Friday it bounced off support, giving an excellent entry point.

GENC was the biggest decliner. I posted this Monday after it missed earnings and collapsed. This is trying to find a support level, and could go all the way back to the 200dma, which could be a nice aqrea to enter trying to catch a bounce. I am going to wait for next earnings, to see if the miss was just a one quarter phenom.

CTRP was the second biggest decliner, and this also looks like an earnings miss, although it started a decline a week before. When it broke through the breakout point on Monday, that would have been my signal to get out.

No comments:

Google Analytics