Range bound markets and opportunities | stockbee

1/30/2007

Range bound markets and opportunities

The market continues to be range bound. While the rally leaders pullback or breakdown, a broad based sector rotation is at play. The new sectors breaking out offer some very good low risk opportunities for entries.
Yesterday I had over 100 breakouts in my scans. Several of them have the right earnings catalyst and relative strength plus sector fuel to take them higher. If you see the following list, you should find ample opportunities on long side:
Selected breakouts with potential:
AOI,Alliance One International Inc (Google  Yahoo  Earnings  Chart
BMRN,Biomarin Pharmaceuticals (Google  Yahoo  Earnings  Chart
BPFH,Boston Private Fincl Hld (Google  Yahoo  Earnings  Chart
CSIQ,Canadian Solar Inc (Google  Yahoo  Earnings  Chart
ESLR,Evergreen Solar Inc (Google  Yahoo  Earnings  Chart
FBP,First Bancorp Holding Co (Google  Yahoo  Earnings  Chart
FCEL,Fuelcell Energy Inc (Google  Yahoo  Earnings  Chart
FLML,Flamel Technologies Sa (Google  Yahoo  Earnings  Chart
FSLR,First Solar Inc (Google  Yahoo  Earnings  Chart
FSYS,Fuel Systems Solutions Inc (Google  Yahoo  Earnings  Chart
GNTX,Gentex Corp (Google  Yahoo  Earnings  Chart
GYI,Getty Images Inc (Google  Yahoo  Earnings  Chart
HLS,Healthsouth Corp (Google  Yahoo  Earnings  Chart
IMCL,Imclone Systems Inc (Google  Yahoo  Earnings  Chart
IPSU,Imperial Sugar Company (Google  Yahoo  Earnings  Chart
IRM,Iron Mountain Inc (Google  Yahoo  Earnings  Chart
JST,Jinpan Internat Ltd (Google  Yahoo  Earnings  Chart
LYO,Lyondell Chemical Co (Google  Yahoo  Earnings  Chart
OFG,Oriental Financial Group (Google  Yahoo  Earnings  Chart
PERY,Perry Ellis Int'l (Google  Yahoo  Earnings  Chart
PFBC,Preferred Bank Los Angeles (Google  Yahoo  Earnings  Chart
POT,Potash Cp Saskatchewan (Google  Yahoo  Earnings  Chart
QLTI,Qlt Inc (Google  Yahoo  Earnings  Chart
RGR,Sturm Ruger & Co Inc (Google  Yahoo  Earnings  Chart
SBH,Sally Beauty Holdings Inc. (Google  Yahoo  Earnings  Chart
SBNY,Signature Bank (Google  Yahoo  Earnings  Chart
SIGM,Sigma Designs Inc (Google  Yahoo  Earnings  Chart
SILC,Silicom Ltd (Google  Yahoo  Earnings  Chart
SIRO,Sirona Dental Systems Inc (Google  Yahoo  Earnings  Chart
SOHU,Sohu.Com Inc (Google  Yahoo  Earnings  Chart
SPAR,Spartan Motors Inc (Google  Yahoo  Earnings  Chart
STLD,Steel Dynamics Inc (Google  Yahoo  Earnings  Chart
STP,Suntech Power Holdings Co Ltd (Google  Yahoo  Earnings  Chart
TDG,TransDigm Group Inc (Google  Yahoo  Earnings  Chart
TRCR,Transcend Services Inc (Google  Yahoo  Earnings  Chart
TRID,Trident Microsystems Inc (Google  Yahoo  Earnings  Chart
TSCM,Thestreet.Com (Google  Yahoo  Earnings  Chart
TSL,Trina Solar Ltd. (Google  Yahoo  Earnings  Chart
USAP,Universal Stain & Alloy (Google  Yahoo  Earnings  Chart
UTI,Universal Technical Institute (Google  Yahoo  Earnings  Chart
WWW,Wolverine World Wide (Google  Yahoo  Earnings  Chart
XIDE,Exide Tech (Google  Yahoo  Earnings  Chart

What are the sector themes emerging. Solar energy, every single stock related to solar energy is breaking out. Clearly the market seems to like the prospect for solar plays. Steel and metal is another sector witnessing breakouts in last couple of days. These sectors are breaking out after a few quarters of good earnings. Regional Banks are also breaking out. In last couple of weeks Regional Banks have seen large scale breakouts after many months of unerperformance. Other sectors where there are fresh breakouts is large cap biotechs, auto parts and aerospace.
So even though market is stuck in range there are lots of opportunities.

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