Follow These 5 Leaders
Volume patterns basically stink.
Nothing but higher volume drops and
lower volume gains. BUT…in this market, anything is possible.
I will say that if this pattern continues, the
only outcome will be lower prices. We definitely need to see some accumulation days…and soon. So…just in case
the market decides to come out of this malaise, here are some names to
consider on either pullbacks or breakouts.
(
IM |
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PowerRating) gaps to the breakout on monstrous volume.
(
RI |
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PowerRating) does the same.
(
ABTL |
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PowerRating) setting up perfectly. Has been
holding up well in a tough Nasdaq
environment.
(
FOSL |
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PowerRating) busts out on good volume. Love their watches.
(
FMT |
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PowerRating) moves out of a base on heavy volume.
Keep in mind, many breakouts have been failing.
These five and other leaders I am following need
to hold their breakouts to tell me things may be getting better.
I am chicken right now so partial positions and
tighter stops are preferred.
Gary Kaltbaum