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Sunday, February 8, 2009

Auto Parts Dealers Weekly Charts

Here is the same chart for auto parts dealers as I put up for oil refiners, ordered by the 12 week performance. AZO is the strongest stock here, and one of the strongest in the market.

This is the weekly chart for AZO. Notice that relative strength has gone to nosebleed levels, and stochastics, though in overbought territory, are still going up. This took a frightening drop during the market crash, and an equally frightening bounce back up.

MNRO reversed a down trend in relative strength back in July and has been quietly outperforming the market since. There has been a lot of high volume up weeks as this has been climbing the right sida of it's base, and could make a beakout attempt soon.

ORLY is close to a 52 week high, but still well off it's 2007 high. Just like MNRO, it reversed a trend in relative strength in july, and has been running circles around the market since.

CSLR is another low float (about 700k shares) no volume stock that has about doubled since July. I'll be keeping an eye on this, it won;t take much of an increase in volume to cause it to rocket up.

This group cracked back in 2007 and appears to have bottomed out in July of 2008. For a small group it has a high percentage of stocks near 52 week highs. As with the refiners, I will be monitoring these this week and note anything unusual,

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