The Index weakness today was deceptive. For the first time in this rally the 100% plus universe has crossed 400 today. As I have said earlier, this number can go up to 1200 plus in healthy rally and the 200% plus number exceeds 300 by the end of rallies.
If you look at number of breakouts in the universe , it has increased sharply to 36 indicating buyers still at work. So far the market action looks like garden variety sector rotation and post earning season selling in some sectors.
Total 4% plus bullish breakouts=109
Total 4% plus bearish breakouts= 66
65 day bullish/bearish ratio= 957/193
Stocks up 50% or more in a month=13
Stocks up 25% or more in a month=139
Number of stocks with 100% plus move =402
Number of stocks up 200% or more = 90
4% plus signals for 100plus universe=36
4% plus signals for 200plus universe=6
Select stocks which had 100% plus move in last 260 days from the low and which are up more than 4% on higher volume. Today's minimum volume is above 100000. To understand how to trade this see my earlier post "How to find a stock which makes 1500% move in a year"
Select breakouts from the list:
EVOL,Evolving Systems Inc (Google Yahoo Earnings Chart)
FTEK,Fuel Tech Inc (Google Yahoo Earnings Chart)
INCY,Incyte Corp (Google Yahoo Earnings Chart)
MFRI,Mfri Inc (Google Yahoo Earnings Chart)
OMRI,Omrix Biopharmaceuticals Inc (Google Yahoo Earnings Chart)
RIMM,Research In Motion Ltd (Google Yahoo Earnings Chart)
SONS,Sonus Networks Inc (Google Yahoo Earnings Chart)
OMRI almost trippled from its first episodic pivot. The second major episodic pivot on earnings annuncement was another good entry point.