IBD 100

I have BWY as last week's biggest ganer on the IBD 100, but IBD has BWY and TRCR tied for first. Not that it matters, they were the only two stocks on the IBD 100 to finish positive for the week. BWY just ompleted a bounce off the 50dma. but appears to be in the base building process and will likely consolidate here for a while. Price relative is pretty strong, and the lack of pani here indicates that there are a lot of strong holders here. If this correction continues, we will be looking for stoks that are holding up, as they will probably take off when the market turns.

TRCR was the secons biggest gainer, and essentially finished flat on the week. It, too, is in a consolidation and could try to break out at any time. Notie the rising prie relative line. This is pretty thinly traded, and CMF does not indicate a lot of accumulation, but I really like the pattern.

DDRX has been a popular target among short sellers for quite a while, and it finally paid off, as it was last week's biggest decliner. I forgot to put the arrow on last Friday's lose, but it was about where it peaked out. Since then vilume has been increasing and the drop has accelerated. This just had an earnings breakout a couple of weeks ago, so this isn't news related. At some point you will have knife catchers and shorts covering, but where that will happen is anyone's guess.

ININ was last week's second biggest decliner, and like DDRX, was a recent earnings breakout. It formed a bullish consolidation after the breakout, then collapsed as the market entered a correction. O'Neil is adamant about selling and raising cash as the distribution day count gets high, because even the best stocks can get rushed when the market heads south. Here are two prime examples of that.

Since IBD called a correction, distribution days are no longer counted. We are now looking for a rally attempt and follow through day. If you don't know what that means, you can follow this blog as I will be tracking it closely, or you can read IBD (or check their website), or, probably the best thing to do is read O'Neil's "How To Make Money In Stocks".