Investors.com « The Novice Bear

More breakouts, but not many

6 08 2008

Here are some breakouts that I found today. Nothing spectacular, but Mindray Med looks pretty good. I threw in that crazy reversal for II-VI just for fun.

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Tags : bases, Cup with handle, IBD, Investors.com
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One of my favorite things about Mondays is the interview Tom O’Brien has with Ken Shreve from Investors.com. This week was particularly informative as Ken talked about follow-through days, new and old market leaders, and general markets trends.

I love how Ken emphasizes how not every follow-through day results in a new rally. Ken points out that new leadership must appear and the simple fact is that there are very few IBD style stocks out there that are worth buying right now puts this particular follow-through day into question. Don’t give up however. New buys will start showing up sooner or later.

Be sure to check out my webinar with Craig Shipman of Blocks. One of the things I will cover is how to use Blocks to scan for stocks breaking out of sound bases.