Schein Biting The Bear
Fear ramped up Wednesday based on what we saw in the Market Volatility Index
(
VIX |
Quote |
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News |
PowerRating). It’s way too early to tell whether Thursday’s action in the Nasdaq
(closing relatively unchanged) is the beginning of a base, however.
Meanwhile, you have to keep in mind that while earning warnings on the
“Real Networks, “Sun Micros,” and “Microsofts” of the
Nasdaq universe attract the crowd’s attention, there are a small number of
stocks scoring big on end runs.
Take Henry Schein
(
HSIC |
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PowerRating) for example.
No…this is not a pre-March chart of a high-tech growth stock.
Rather, this is dental supplier Henry Schein 10 minutes before Thursday’s
close. Many of the favorable technical ingredients are in place given HSIC’s
lock on uptrend mode, breakouts from trading ranges over the past three months,
and heavy volume on price surges.
If you want to keep your watchlist filled with healthy
candidates like this one, an effective way to save time is to scan each of the TradingMarkets
Indicators Lists nightly. Look at the charts of the stocks appearing at the top
of the lists. When you do this, I think you will realize why you don’t need to
visit chat rooms any more or listen to those people on the TV.
Until Friday,