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Wednesday, December 31, 2008

LPHI


Early on there was a ton of stocks on my new highs scan, but they were either stocks that had already broken out and were getting extended, or stocks breaking out on low volume. A few hours into the session, LPHI popped up, and sure enough it was getting decent volume. The base here isn't very well formed, the cup is v-shaped and the handle shows a couple of wild swings. Realtive strength hit a new high as well, but the relative strength line as a whole isn't too impressive. CMF peaked back in September, but is headed back up. Despite the flaws, this was about the best breakout I could find.

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