Breakouts Now Have This Characteristic

Market volume was anemic today as the indexes tried to re-capture
some of yesterday’s losses.

 

 

Accredited Lenders
(LEND) is one of the recent names to break out of a base.  The stock pushed
through 40.97 on heavy volume yesterday, but was only able to post gains above
that point today after a poor close on Wednesday.

 

 

We have yet to see any 20%
gainers from their breakout points.  The stocks that have been breaking out
have faced profit-taking within a few points. 
Websense (WBSN) made an attempted run through 41.94, but closed
below that level on heavy volume.

 

 

Both individual growth stocks
and the market indexes have not exactly pointed to running at higher prices. 
There have been some trading opportunities for aggressive traders, but stops
have been crucial and greed has no place in this market.

At this time, we are looking
to see if the market can absorb the recent distribution we saw
on  9/8 and 9/15 in order to move higher.  Enjoy
your weekend!