Low volume bounce | stockbee

3/19/2007

Low volume bounce

Select stocks witnessed buy interest today. But overall volume was low. Some stocks like ROCM, TZOO, SYX, JOSB, VIP, PERY, FRPT, OFI, SNDA, PSYS, BWLD, CMG, NCMI, and GES had high volume breakouts. Some of these have more gains ahead. Some of them had recent good earnings and were not dented by the correction.

After a correction stocks which were not affected by it spring back in to action. Some of these stocks are early in their price and earnings appreciation cycle and they will keep going up, or get in to consolidation if down move in overall market continues.

Another set of stocks which will start breaking out in few weeks would be, stocks likely to have good earnings. They will run in anticipation of good earnings. Like post earnings announcement drift PEAD, there is pre earnings drift. To play it you need to track analysts earning estimates. If analyst start taking earnings estimates up, the stock is likely to go up.

It is still too early to expect a sustained tradable counter trend rally.

Market Monitor
Total 4% plus bullish breakouts=112
Total 4% plus bearish breakouts=35
65 day bullish/bearish ratio= 613/386
Stocks up 50% or more in a month=4
Stocks up 25% or more in a month=35
Number of stocks with 100% plus move =289
Number of stocks up 200% or more = 66
4% plus signals for 100plus universe=30
4% plus signals for 200plus universe=13


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 the post "How to find a stock which makes a 1500% plus move in a year".
Out of the list below many have flat bases or cup with handles.

ACAD,Acadia Pharmaceuticals (Google  Yahoo  Earnings  Chart
ACOR,Acorda Therapeutics Inc (Google  Yahoo  Earnings  Chart
BVX,Bovie Medical Systems (Google  Yahoo  Earnings  Chart
CECE,Ceco Environmental Corp (Google  Yahoo  Earnings  Chart
CHL,China Mobile Ltd (Google  Yahoo  Earnings  Chart
CYNO,Cynosure Inc (Google  Yahoo  Earnings  Chart
CYTR,Cytrx Corporation (Google  Yahoo  Earnings  Chart
GES,Guess? Incorporated (Google  Yahoo  Earnings  Chart
GIGM,Gigamedia Limited (Google  Yahoo  Earnings  Chart
GLBC,Global Crossing Ltd (Google  Yahoo  Earnings  Chart
GT,Goodyear Tire&Rubber Co (Google  Yahoo  Earnings  Chart
JSDA,Jones Soda Co (Google  Yahoo  Earnings  Chart
LFC,China Life Insurance Company (Google  Yahoo  Earnings  Chart
LTS,Ladenburg Thalmann Finl (Google  Yahoo  Earnings  Chart
NEXC,Nexcen Brands Inc (Google  Yahoo  Earnings  Chart
NWK,Network Equipment Tech (Google  Yahoo  Earnings  Chart
OFI,Overhill Farms Inc (Google  Yahoo  Earnings  Chart
ONT,On2.Com Inc (Google  Yahoo  Earnings  Chart
PERY,Perry Ellis Int'l (Google  Yahoo  Earnings  Chart
REFR,Research Frontiers Inc (Google  Yahoo  Earnings  Chart
ROCM,Rochester Medical Corp (Google  Yahoo  Earnings  Chart
SIGA,Siga Pharmaceuticals Inc (Google  Yahoo  Earnings  Chart
SIGM,Sigma Designs Inc (Google  Yahoo  Earnings  Chart
SILC,Silicom Ltd (Google  Yahoo  Earnings  Chart
SYX,Systemax Inc (Google  Yahoo  Earnings  Chart
TTWO,Take-Two Intera Software (Google  Yahoo  Earnings  Chart
TWW,Terremark Worldwide Inc (Google  Yahoo  Earnings  Chart
TZOO,Travelzoo Inc (Google  Yahoo  Earnings  Chart
VIP,Vimpel Communication Ads (Google  Yahoo  Earnings  Chart
WCG,Wellcare Health Plans Inc (Google  Yahoo  Earnings  Chart

3 comments:

walter said...

ABXA holding 7 pretty well...

walter said...

7ish, i meant to say...

Pradeep Bonde said...

Walter
It is a good stock for multi year holding.