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Charts courtesy of stockcharts.com

Tuesday, January 31, 2012

MAT

I  picked up 3 more breakouts today in the Market Watch game (and got stopped out of one I already had), but now that I'm taking a closer look at the charts I'm getting a little buyer's remorse. One thing I don't like to see in earnings breakouts is a pre-earnings breakout like MAT had last week. Another thing I don't like to see is a weak price relative line. One thing I do like is today's volume, and a nice gap up over any possible resistance.  I may be adding to this on any pullbacks, assuming they are just pullbacks.

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