IBD 100

As you can probably imagine, it was another big week on the IBD 100. Onc again JKS figures into the top 10, this time as a gainer. It had been in the process forming it's first base when it reported earnings this week, resulting in  big gap up. It has since come back to near the breakout point, and is right now at about as good an entry point as we are going to get. This is a very speculative stock that moves quickly (and is on this list almost every week, as either a gainer or decliner), but is well worth a fairly small position as it has a potential for a pretty big move here. If oil is going to take off thanks to QE 2, then solars will take off with them.

SLW was the second biggest gainer. The silver group as a whole has been very strong (as has silver itself, again thanks to QE 2), and this is the leaders. Volume is on the increase, CMF is rising, price relative is very strong, and the spread between the moving averages is increasing. Last Friday (blue arrow) saw a breakout from a very short consolidation, and that was the last good entry point. I hate the phrase "buy the dips", but that is about the best strategy I can see here.

CTRP was the biggest decliner, and it looks like an earnings hit. This was not in the process of building a base, but did hve a decent chart. As it is, it is still above the 50dma nd looks like that will be the first major support level to be tested. If it can hold it nd get a good bounce, this might be a good entry point, although buying this soon after an earnings hit is usually not a good bet.

DISCA was the second biggest decliner, and is breaking a tradition of having the most bullish looking chart. This looks like another earnings hit, and it took out the 50dma pretty easily. 40 looks like a pretty critical support level, but this thing could go all the way down to the 200dma. Either way, it's now a falling knife.

I don't have this morning's IBD, but I suspect the distribution day count has fallen, as the older days fall off with the resumption of the uptrend. The count was fairly low last week, especially on the Nasdaq, so there is nothing to indicate an imminent correction.